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17-Sep-2010 1:40 PM

IMF to raise UAE and Dubai economic growth forecasts

International Monetary Fund (IMF) Middle East Director Masood Ahmed stated the IMF will raise is economic growth forecasts for Dubai and the UAE as progress in debt restructuring and government spending boosts the economy (Bloomberg, 17-Sep-2010). Mr Ahmed stated growth in the UAE will be better than the forecast 1.3%, with Dubai's growth also expected to exceed the forecast 0.4% contraction.