Dubai-Mubasher: Dubai economy is expected to remain strong and not to be impacted by tumbling oil prices, Business Monitor International Magazine reported.
The economy may grow at a slower pace in the next period, but will be boosted by non-oil sector, especially tourism, building and retail.
The emirate’s economy is likely to grow by 4.2% and 4.4% in 2016 and 2017, respectively, the magazine stated.
Ahmad bin Byat, managing director of Dubai Holding, earlier said the UAE economy is performing well regionally and globally despite the imbalance of global economy.
He expected Dubai’s economy to grow by 5% in 2015.
