United Arab Emirates: 2021 Article IV Consultation-Press Release; and Staff Report

February 17, 2022

Summary

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.

Subject: Expenditure, Financial institutions, Financial sector policy and analysis, Financial sector stability, Fiscal policy, International organization, Loans, Monetary policy, Oil prices, Prices

Keywords: CPI basket weight, CPI data, Financial sector stability, Global, liability positions vis-à-vis nonresident, Loans, manufacturing sector producer price index, Oil prices, Policy discussion, reform effort

Pages:
67
Volume:
2022
DOI:
https://doi.org/10.5089/9798400202834.002
Issue:
050
Series:
Country Report No. 2022/050
Stock No:
1UAEEA2022001
ISBN:
9798400202834
ISSN:
1934-7685

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