Sheikh Says Worst is Over for Dubai

The ruler of Dubai says his emirate is back on track after getting caught up in the global economic meltdown.

Sheikh Mohammed bin Rashid al-Maktoum said this while answering questions for an online “town hall” on a website he set up last week.

“The worst is over and behind us,” al-Maktoum said, commenting on the impact of the financial crisis on Dubai in remarks posted on the website. “The performance of our economy in the first quarter of this year proves that we are on the way out of the crisis, and that we are on the right track.”

He claims gulf stocks rose, with Dubai’s measure increasing for the fourth day in a row.

“Our economy will recover faster than all the other economies,” said the Sheikh, who is also vice-president and prime minister of the United Arab Emirates.

He said the international media had waged a campaign against Dubai with predictions of economic collapse and a focus on the treatment of Asian laborers who built the city.

“We are not troubled by criticism and we don’t fear the campaigns,” he said in the interview, conducted via his new website www.uaepm.ae.

The website was meant for citizens and journalists – both local and global – to ask the Sheikh questions about the state of Dubai.