Charts & Numbers

 The UAE has just announced an inflation target of 5% for 2008. The country’s Minister of Economy, Sultan bin Saeed al-Mansouri,  said on Wednesday.

 ”It’s a big challenge whether we can achieve it… We need to look and see how that can happen.” – Sultan bin Saeed al-Mansouri

Inflation in the UAE, the second-largest Arab economy, hit a 19-year high of 9.3% in ‘06 and probably accelerated to 10.9% last year as assumed by the National Bank of Abu Dhabi in a statement last month.

In order to achive this target the UAE WILL revalue its currency