IMF Staff Country Reports

United Arab Emirates: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the United Arab Emirates

February 1, 2019

Download PDF

Preview Citation

Format: Chicago

United Arab Emirates: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the United Arab Emirates, (USA: International Monetary Fund, 2019) accessed December 22, 2024

Summary

This Article IV Consultation highlights that UAE has successfully weathered recent external shocks, because of its large financial buffers, diversified economy, and strong policy response. The economy is starting to recover from the 2015–16 slowdown caused by a decline in oil prices. Growth momentum is expected to strengthen in the next few years, helped by higher oil output, increased public investment, and stepped-up structural reforms. Gradual and growth-friendly fiscal consolidation should resume once the recovery gains momentum to ensure intergenerational equity. Key priorities have been highlighted to raise spending efficiency, continue diversifying revenues, firmly anchor fiscal policy, and improve policy coordination and management of fiscal risks. The report also discusses that realizing the government’s Vision 2021 requires strong effort to foster productivity growth and increase the private sector’s role in the economy.

Subject: Expenditure, Financial institutions, Fiscal policy, Loans, Oil prices, Prices, Public debt

Keywords: CR, Dubai government, GDP, Global, Government, Government of Abu Dhabi, Government of Dubai, IMF staff estimate, ISCR, Liability positions vis-à-vis nonresident, Loans, Oil prices, Stimulus package, SWF investment income

Publication Details

  • Pages:

    64

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2019/035

  • Stock No:

    1AREEA2019001

  • ISBN:

    9781484397251

  • ISSN:

    1934-7685

You May Also Be Interested In...

How Has Dollarization Served Timor-Leste So Far?

December 20, 2024

Chasing the Dream: Industry-Level Productivity Developments in Europe

December 20, 2024

A Confidence-Financial Inclusion Nexus in the Caucasus and Central Asia?

December 20, 2024

Ukraine: Sixth Review Under the Extended Arrangement Under the Extended Fund Facility, Requests for Modification of a Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Ukraine

December 20, 2024