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Essay / Research Paper Abstract
This 5 page paper examines an article on the Dubai economy which indicates a high level of growth and an optimistic view for the future. The paper then critiques this article and considers the potential problem of inflation. The bibliography cites 5 sources.
Page Count:
5 pages (~225 words per page)
File: TS14_TEdubaie.rtf
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Unformatted sample text from the term paper:
more than 10% real growth, resulting in the highest growth in GDP in the globe for that period (DED, 2005). The growth is also expected to continue at a rate
of 10% for 2005 (DED, 2005). With a GDP of Dh98.1 billion in 2004 up from Dh41.2 billion in 19951 the growth has been rapid and steady with the
growth reflecting the underlying economic policies of the government. 2004 was described as a golden year, with much of the credit being granted to General Shaikh Mohammad Bin Rashid Al
Maktoum, Crown Prince of Dubai and UAE Defence Minister who has been pursuing a policy of diversification so reduce the areas dependence on oil along with the support that is
described as unlimited being given to the private sector, which included construction (DED, 2005). The article tells us that the diversification policy is working, that the dependant on oil fell
to 6% in 2004 when it was at 7% in 2003, this was despite the contribution towards the GDP increasing by 10.9% due to other areas of the economy growing
and increasing their contribution at a greater rate (DED, 2005). The growth of the non oil sectors is aided directly by the inflow of foreign investment into the area,
this is also expected to continue due to the current and projected continuing trends. One area that is noted as having a high level of performance is that of construction
which increased by 29% and made a contribution of Dh11.1 billion to the GDP,(DED, 2005). Other areas such as tourism and aviation are also seeing increases which are all
interrelated. The current position is also argued as one that has a high level of confidence from the external investors. Industry also increased by 16.6% and telecommunications by 19.3% and
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