United Arab Emirates: 2021 Article IV Consultation-Press Release; and Staff Report PDF Download
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Author: International Monetary
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 67
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Book Description
A swift policy response helped mitigate the economic impact of the twin COVID-19 and oil price shocks and contain the initial spread of the virus. A gradual recovery driven by the non-oil sector is underway, following a deep recession in 2020. Fiscal and external balances have improved with recent oil price increases. The UAE is among the world leaders in delivering vaccinations, with nearly 85 percent of the population fully vaccinated as of October 2021.
Author:
Publisher:
ISBN:
Category : United Arab Emirates
Languages : en
Pages : 68
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Book Description
Author: International Monetary
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 67
Get Book Here
Book Description
A swift policy response helped mitigate the economic impact of the twin COVID-19 and oil price shocks and contain the initial spread of the virus. A gradual recovery driven by the non-oil sector is underway, following a deep recession in 2020. Fiscal and external balances have improved with recent oil price increases. The UAE is among the world leaders in delivering vaccinations, with nearly 85 percent of the population fully vaccinated as of October 2021.
Author: International Monetary Fund. Middle East and Central Asia Dept.
Publisher: International Monetary Fund
ISBN: 1513599283
Category : Business & Economics
Languages : en
Pages : 59
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Book Description
This 2015 Article IV Consultation highlights that United Arab Emirates has continued to benefit from its perceived safe haven status and large fiscal and external buffers that have helped limit negative spillovers from lower oil prices, sluggish global growth, and volatility in emerging market economies. Non-oil growth remained robust at 4.8 percent in 2014, driven by construction. The economic outlook is expected to moderate amid lower oil prices. Non-oil growth is projected to slow to 3.4 percent in 2015, before increasing to 4.6 percent by 2020, supported by the implementation of mega projects and private investment in the run-up to Expo 2020.
Author: International Monetary Fund. Middle East and Central Asia Dept.
Publisher: International Monetary Fund
ISBN: 1498336566
Category : Business & Economics
Languages : en
Pages : 56
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Book Description
This 2014 Article IV Consultation highlights that the United Arab Emirates has continued to benefit from its perceived safe-haven status amid regional instability. The economic recovery has been solid, supported by the tourism and hospitality sectors, and a rebounding real estate sector. Although growth in oil production moderated, public projects in Abu Dhabi and buoyant growth in Dubai’s service sectors continued to underpin growth, which reached 5.2 percent in 2013. The macroeconomic outlook is positive. Economic growth is expected at 4.8 percent in 2014 and about 4.5 percent in coming years, supported by a number of mega projects announced and the successful bid for the World Expo 2020.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1475503695
Category : Business & Economics
Languages : en
Pages : 47
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Book Description
This 2012 Article IV Consultation highlights that the economic recovery in the United Arab Emirates is continuing despite the uncertain global economic environment. The banking sector has remained well capitalized and profitable, despite a continued rise in nonperforming loans and higher provisioning. Executive Directors have welcomed the continued economic recovery and favorable near-term outlook, but noted downside risks from the uncertain global environment. Directors have encouraged the authorities to continue their efforts to sustain growth and diversify the economy, while maintaining macroeconomic and financial stability.
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Publisher:
ISBN:
Category : United Arab Emirates
Languages : en
Pages : 54
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Book Description
Author: International Monetary Fund. Middle East and Central Asia Dept.
Publisher: International Monetary Fund
ISBN: 1484397282
Category : Business & Economics
Languages : en
Pages : 64
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Book Description
This Article IV Consultation highlights that UAE has successfully weathered recent external shocks, because of its large financial buffers, diversified economy, and strong policy response. The economy is starting to recover from the 2015–16 slowdown caused by a decline in oil prices. Growth momentum is expected to strengthen in the next few years, helped by higher oil output, increased public investment, and stepped-up structural reforms. Gradual and growth-friendly fiscal consolidation should resume once the recovery gains momentum to ensure intergenerational equity. Key priorities have been highlighted to raise spending efficiency, continue diversifying revenues, firmly anchor fiscal policy, and improve policy coordination and management of fiscal risks. The report also discusses that realizing the government’s Vision 2021 requires strong effort to foster productivity growth and increase the private sector’s role in the economy.
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ISBN:
Category :
Languages : en
Pages :
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Author: International Monetary Fund. Middle East and Central Asia Dept.
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 69
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Book Description
Economic growth is strong, driven by non-hydrocarbon activity, timely support measures, and the benefits of earlier reforms. Inflation has risen with global trends, while high oil prices support large surpluses in the fiscal and external balances. Banks are adequately capitalized overall, but nonperforming loans remain elevated, albeit down from recent peaks, and real estate prices have risen sharply in some segments. Long-term vulnerabilities from global decarbonization efforts are being addressed through commitments to climate initiatives and a balanced approach to energy transition.
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ISBN:
Category : United Arab Emirates
Languages : en
Pages : 45
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Book Description
