{
  "title": "United Arab Emirates: 2021 Article IV Consultation-Press Release; and Staff Report",
  "publication": "IMF Staff Country Reports, February 17, 2022",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2022/02/17/united-arab-emirates-2021-article-iv-consultation-press-release-and-staff-report-513265",
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  "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.",
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    {
      "heading": "Executive summary and main findings",
      "content": "- 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.\n- A gradual recovery driven by the non-oil sector is underway, following a deep recession in 2020.\n- Fiscal and external balances have improved with recent oil price increases.\n- The UAE is among the world leaders in delivering vaccinations, with nearly 85 percent of the population fully vaccinated as of October 2021."
    },
    {
      "heading": "Macroeconomic conditions and recovery",
      "content": "- Recovery characterization:\n  - Recovery described as gradual and driven by the non-oil sector.\n  - Preceding shock: a deep recession in 2020.\n- Shocks and policy response:\n  - Twin shocks: COVID-19 pandemic and oil price shocks.\n  - Policy response characterized as swift and effective at mitigation and containment."
    },
    {
      "heading": "Fiscal and external sector developments",
      "content": "- Fiscal and external balances:\n  - Both fiscal and external balances have improved in response to recent oil price increases."
    },
    {
      "heading": "Health response and vaccination status",
      "content": "- Vaccination achievement:\n  - Nearly 85 percent of the population fully vaccinated as of October 2021.\n- Public health outcome:\n  - The initial spread of the virus was contained, aided by policy measures.\n\n---\n\n Content in this bundle\n\n- 1. Changing Global Financial Conditions\n  - 1. Changing Global Financial Conditions (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1. Changing Global Financial Conditions (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: February 17, 2022",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400202834.002",
    "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.",
    "Recovery characterization:",
    "Shocks and policy response:",
    "Fiscal and external balances:",
    "Vaccination achievement:",
    "Public health outcome:",
    "**1. Changing Global Financial Conditions**"
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