UAE local GDP expected to grow by 17 percent

Published December 11th, 2000 - 02:00 GMT

The Emirates Planning Ministry has revealed that that the local GDP is expected to grow to 223 billion dirhams ($61 billion) by the end of 2000, up from Dh 190.5 billion in 1999. These figures translate into a 17 percent growth rate.  


According to Al-Hayat newspaper, celebrating the 29th anniversary of the State of the United Arab Emirates, the local planning ministry announced recently that the local per capita average annual income had grown to $18,500. The ministry also reported that the national economy had managed to maintain prolonged and stable growth rates over that past years. 


The Emirates Planning Ministry predicts a Dh 35 billion-trade balance surplus by the end of 2000 compared to the Dh 13.4 billion-surplus in 1999. The ministry also anticipates the total final consumption to rise as high as Dh 141 billion by the end of 2000, up from Dh 130.4 billion in 1999.  


In addition, the value of the total national savings is expected to reach as high as Dh 55 billion by the in of 2000, up from Dh 34.4 billion in 1999 and Dh 3 billion in 1972. — (Albawaba-MEBG)

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