UAE GDP to grow by 3.5%

The UAE’s Gross Domestic Product (GDP) is expected to grow to more than AED 1.6 trillion this year, indicating a 3.5% increase in comparison to the growth rate of 2014. His Excellency, Sultan bin Saeed Al Mansouri, Minister of Economy says the Emirates' ability to continue with high growth rates in the past year despite economic instability, shows how efficient the country is economically. In a statement to national news agency WAM, Al Mansouri went on to say that it also proves its diversification policy is successful as it relies more on non-oil sectors to weather global challenges. Currently the share of the industrial sector in the GDP stands between ten and 14% as it continues to grow. Al Mansouri added that industrial investments in the country are set to double in five years.