United Arab Emirates : 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the United Arab Emirates

Publication Date: July 27, 2016
Electronic Access: Free Full text (PDF file size is 1,660KB).
Use the free Adobe Acrobat Reader to view this PDF file

Summary: This 2016 Article IV Consultation highlights that non-oil economic activity in the United Arab Emirates slowed to 3.7 percent in 2015. Negative effects on overall growth were partially offset by the increase in oil production. Despite the strong fiscal policy response to adjust to lower oil prices, the fiscal balance turned to a deficit of 2.1 percent of GDP, while the current account surplus declined to 3.3 percent of GDP. Banks remained well capitalized and liquid, though pressures on profitability are emerging as asset quality weakens owing to the economic slowdown and rising funding costs. Economic activity is expected to moderate further in 2016, before improving over the medium term.
Series: Country Report No. 16/251
Subject(s): Article IV consultation reports | Economic growth | Oil prices | Fiscal policy | Fiscal consolidation | Government expenditures | Fiscal reforms | Banking sector | Bank supervision | Economic indicators | Balance of payments statistics | Debt sustainability analysis | Staff Reports | Press releases | United Arab Emirates

Publication Date: July 27, 2016
ISBN/ISSN: 9781498388689/1934-7685 Format: Paper
Stock No: 1AREEA2016001 Pages: 72
US$18.00 (Academic Rate:
US$18.00 )
Please address any questions about this title to publications@imf.org