United Arab Emirates: Staff Report for the 2014 Article IV Consultation
IMF Staff Country Reports, July 3, 2014
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Bibliographic details
- Published: July 3, 2014
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781498326476.002
Macroeconomic overview and recent performance
- The United Arab Emirates has continued to benefit from its perceived safe-haven status amid regional instability.
- Economic growth reached 5.2 percent in 2013.
- The economic recovery has been solid, supported by the tourism and hospitality sectors, and a rebounding real estate sector.
- Growth in oil production moderated.
- Public projects in Abu Dhabi and buoyant growth in Dubai’s service sectors continued to underpin growth.
Outlook and projections
- The macroeconomic outlook is positive.
- Economic growth is expected at 4.8 percent in 2014 and about 4.5 percent in coming years.
- Growth support cited includes a number of mega projects announced and the successful bid for the World Expo 2020.
Key thematic highlights
- Sectors underpinning recovery and growth:
- Tourism and hospitality sectors.
- Real estate sector (rebounding).
- Dubai’s service sectors (buoyant growth).
- Public projects in Abu Dhabi.
- Structural and sectoral considerations:
- Moderation in oil production noted alongside non-oil sector drivers of growth.
United Arab Emirates: Staff Report for the 2014 Article IV Consultation (IMF Staff Country Report 2014/187), July 3, 2014.
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