United Arab Emirates: 2004 Article IV Consultation-Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the United Arab Emirates
June 29, 2004
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This 2004 Article IV Consultation highlights that the macroeconomic performance of United Arab Emirates is estimated to have been strong in 2003, reflecting favorable developments in the oil market, higher oil production, and prices. Nonhydrocarbon real GDP growth is estimated to have remained robust at about 5 percent, one of the highest in the Gulf Cooperation Council area. Several projects were launched in 2003 in the areas of construction, upstream gas, and downstream oil services. Progress in introducing structural reforms has varied among the Emirates.
Subject: Commodities, External position, Fiscal policy, International trade, Prices
Keywords: authority, Central Asia, CFT regime, CR, East Africa, economic development strategy, economy, economy well, Exports, Foreign assets, Global, government, government of Abu Dhabi, ISCR, Middle East, North Africa, Oil, Oil prices, private sector, prudent approach, U.A.E. authorities
Pages:
65
Volume:
2004
DOI:
Issue:
175
Series:
Country Report No. 2004/175
Stock No:
1AREEA0022004
ISBN:
9781451801118
ISSN:
1934-7685
