By: Ramy Sameeh
Abu Dhabi-Mubasher: The UAE is proceeding with its planned infrastructure projects in Dubai and Abu Dhabi despite declining oil prices, said economy minister Sultan bin Saeed Al Mansouri.
On the sidelines of third session of the Federal National Council meeting, he added that projects are ongoing in Dubai and Abu Dhabi including Al Maktoum International Airport and Expo 2020.
Al Mansouri noted that the UAE managed to handle the fall in oil prices in a way more effective than its peers.
The UAE will adhere to its strategy to diversify its economy, as well as strengthening the industrial and services sectors to offset any oil price decline in the future.
Al Mansouri expected the UAE economy to grow 3.5% in 2015 and 2016, and non-oil GDP to rise 4.4% and 5.4% in 2015 and 2016, respectively.
Translated by: Julian Nabil
