United Arab Emirates: 2008 Article IV Consultation: Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion

April 13, 2009

Preview Citation

Format: Chicago

United Arab Emirates: 2008 Article IV Consultation: Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion, (USA: International Monetary Fund, 2009) accessed November 21, 2024

Summary

The United Arab Emirates' (UAE) macroeconomic performance during 2007–08 was strong, with growth especially in the construction and services sectors. Annual average inflation accelerated, driven by domestic demand pressures. Executive Directors have commended the authorities for their outward-oriented development strategy and the impressive performance of the economy in recent years. Directors have also emphasized the importance of safeguarding the soundness and functioning of the financial sector, while facilitating a smooth and orderly deceleration in credit growth from an unsustainable pace.

Subject: Balance of payments, Banking, Commercial banks, Current account surpluses, Financial institutions, Income, Inflation, National accounts, Oil prices, Prices

Keywords: Baseline assumption, Commercial banks, CR, Current account surpluses, Dirham, Global, Income, Inflation, ISCR, Oil price baseline assumption, Oil prices, U.A.E oil export price, U.A.E. banking system, U.A.E. central bank, U.A.E. dirham

Publication Details

Pages:

47
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2009/124
Stock No:

1AREEA2009002
ISBN:

9781451801231
ISSN:

1934-7685

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