United Arab Emirates: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the United Arab Emirates

International Monetary Fund

No 2019/035, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ISCR; CR; government; GDP; IMF staff estimate; Dubai government; liability positions vis-à-vis nonresident; government of Abu Dhabi; stimulus package; SWF investment income; government of Dubai; Oil prices; Loans; Global (search for similar items in EconPapers)
Pages: 64
Date: 2019-02-01
New Economics Papers: this item is included in nep-ara
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=46571 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfscr:2019/035

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Staff Country Reports from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().