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

Author/Editor:

International Monetary Fund. Middle East and Central Asia Dept.

Publication Date:

February 1, 2019

Electronic Access:

Free Full Text. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

This Article IV Consultation highlights that the United Arab Emirates’ success in weathering recent external shocks, thanks to large financial buffers, a diversified economy, and a 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 the strong effort needed to realize the government’s Vision 2021 to foster productivity growth and increase the private sector’s role in the economy.

Series:

Country Report No. 19/35

Subject:

English

Publication Date:

February 1, 2019

ISBN/ISSN:

9781484397251/1934-7685

Stock No:

1AREEA2019001

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

64

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