UAE Minister of Economy Projecting Growth of 2.5 Percent This Year
UAE : 03 September
Al Mansouri states that the economic situation in the UAE is stable and further growth is to be expected
Sultan bin Saeed Al Mansouri, UAE’s economy minister, credits their more diversified economy for the current stability.
An economic growth of 2.5 per cent is probable for this year, after only 1.3 per cent growth in 2009, according to Al Mansouri. He also stated that a drop in inflation is expected, from the 2009 figure of 1.56 per cent to a rate of 1.1 per cent for 2010.
According to the minister, UAE’s economy was stable through the worldwide economic crisis because of measures taken and incentives offered that limited the losses incurred.
Gross domestic product (GDP) in the UAE for 2009 hit DH914.3 billion.
Al Mansouri noted that the non-oil sector contributed to 66.5 per cent of the 2008 GDP, but that figure grew to 71 per cent in 2009.
It is projected that industry will grow from 16.2 per cent of GDP in 2010 to between 20 and 25 per cent of the nation’s GDP in the future. Al Mansouri reported that the ministry is working towards bumping up that contribution to fall between 90 and 97 per cent.
Paul Holdsworth, Staff Writer, Gulf Jobs Market NewsGulf natives can travel to the Saudi kingdom without a problem
Tour companies in the UAE state that the current visa ban will affect only Gulf expats during Umrah while the tourism authorities in Saudi Arabia refuse to comment on it.
This conclusion was confirmed by Al-Ansar Hajj and Umrah Tourism out of Abu Dhabi, who noted [...]
Job Market in Bahrain Improving
Employment numbers in Bahrain are climbing again after months of stalled improvement, indicating that the Bahrain job market is beginning to recover.
The most recent data shows that employment in Bahrain rose a modest one per cent growth at the close of Q2, pushing the total to 139,347.
This is the first increase that employment in Bahrain [...]
Because of their out of date education system, Saudi nationals are struggling to find work
The interior minister in the Kingdom, who needs to deal with an unemployment rate that climbed to 10.5 per cent in 2009, called for the private businesses and government ministries to create or grant positions to Saudi Arabia nationals, according to [...]
Labour Laws Introduced to Increase Emiratisation
The attempts to get more UAE natives working in the private sector are getting tied up due to the different expectations of the expatriate management and the employed nationals.
In a recent poll done by YouGovSiraj aimed at businesses and gauging active support of the policy of Emiratisation, Abdullah al Darmaki noted that the work of [...]
We are dedicated to bringing you all the latest economic and job market news from the Gulf
Read about our writing team here
Got a story?
Contact the news desk at news@gulfjobsmarket.com or by phone at +44 (0) 207 100 4537
Find Jobs in Middle East
Find Jobs by Industry
Twitter
LinkedIn
RSS