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Hydrocarbon accounts for only 25% of country's GDP and 20% of exports.

 

The UAE economy is one of the most diversified among the GCC countries and will post 3.1 per cent gross domestic product (GDP) growth this year despite lower oil prices, according to an expert.

Julien Marcilly, chief economist, Coface, said the UAE's hydrocarbon revenues account only for 25 per cent of GDP and 20 per cent of total export revenues.

"More than 60 per cent of the country's budget revenues still depend on non-oil sector development," Marcilly said at Coface Country Risk conference in Dubai on Tuesday.

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<name="title">MetLife AIG ANB Cooperative Insurance Company announces obtaining the company renewal qualification letter from Council of Cooperative Health Insurance

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