United Arab Emirates 2021 Article Iv Consultation Press Release And Staff Report

Author : International Monetary,International Monetary Fund. Middle East and Central Asia Dept.
Publisher : International Monetary Fund
Page : 67 pages
File Size : 47,6 Mb
Release : 2022-02-17
Category : Business & Economics
ISBN : 9798400202834

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United Arab Emirates: 2021 Article IV Consultation-Press Release; and Staff Report by International Monetary,International Monetary Fund. Middle East and Central Asia Dept. Pdf

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.

Author : Anonim
Publisher : Unknown
Page : 128 pages
File Size : 46,8 Mb
Release : 2024-07-01
Category : Electronic
ISBN : OCLC:1322838117

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United Arab Emirates by Anonim Pdf

Author : International Monetary Fund. Middle East and Central Asia Dept.
Publisher : International Monetary Fund
Page : 64 pages
File Size : 44,8 Mb
Release : 2019-02-01
Category : Business & Economics
ISBN : 9781484397282

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United Arab Emirates by International Monetary Fund. Middle East and Central Asia Dept. Pdf

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.

Author : International Monetary Fund. Middle East and Central Asia Dept.
Publisher : International Monetary Fund
Page : 69 pages
File Size : 46,5 Mb
Release : 2023-06-26
Category : Business & Economics
ISBN : 9798400245381

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United Arab Emirates by International Monetary Fund. Middle East and Central Asia Dept. Pdf

Economic growth is strong, driven by non-hydrocarbon activity, timely support measures, and the benefits of earlier reforms. Inflation has risen with global trends, while high oil prices support large surpluses in the fiscal and external balances. Banks are adequately capitalized overall, but nonperforming loans remain elevated, albeit down from recent peaks, and real estate prices have risen sharply in some segments. Long-term vulnerabilities from global decarbonization efforts are being addressed through commitments to climate initiatives and a balanced approach to energy transition.

Author : International Monetary Fund. Middle East and Central Asia Dept.
Publisher : International Monetary Fund
Page : 60 pages
File Size : 40,6 Mb
Release : 2017-07-17
Category : Business & Economics
ISBN : 9781484310274

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United Arab Emirates by International Monetary Fund. Middle East and Central Asia Dept. Pdf

The UAE is adjusting to the “lower-for-longer” oil price environment from a position of strength, which is reflected in its large financial buffers, long-standing safe-haven status, diversified and business-friendly economy, and sound financial system. The authorities are further streamlining spending and improving the business environment. Yet fiscal and external balances have weakened, the economy has decelerated, and banks are having to adapt to the more challenging environment.

Author : International Monetary Fund. Middle East and Central Asia Dept.
Publisher : International Monetary Fund
Page : 58 pages
File Size : 50,9 Mb
Release : 2015-08-04
Category : Business & Economics
ISBN : 9781513587042

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United Arab Emirates by International Monetary Fund. Middle East and Central Asia Dept. Pdf

This 2015 Article IV Consultation highlights that United Arab Emirates has continued to benefit from its perceived safe haven status and large fiscal and external buffers that have helped limit negative spillovers from lower oil prices, sluggish global growth, and volatility in emerging market economies. Non-oil growth remained robust at 4.8 percent in 2014, driven by construction. The economic outlook is expected to moderate amid lower oil prices. Non-oil growth is projected to slow to 3.4 percent in 2015, before increasing to 4.6 percent by 2020, supported by the implementation of mega projects and private investment in the run-up to Expo 2020.

Author : International Monetary Fund. Middle East and Central Asia Dept.
Publisher : International Monetary Fund
Page : 72 pages
File Size : 41,5 Mb
Release : 2016-07-27
Category : Business & Economics
ISBN : 9781498389556

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United Arab Emirates by International Monetary Fund. Middle East and Central Asia Dept. Pdf

This 2016 Article IV Consultation highlights that non-oil economic activity in the United Arab Emirates slowed to 3.7 percent in 2015. Negative effects on overall growth were partially offset by the increase in oil production. Despite the strong fiscal policy response to adjust to lower oil prices, the fiscal balance turned to a deficit of 2.1 percent of GDP, while the current account surplus declined to 3.3 percent of GDP. Banks remained well capitalized and liquid, though pressures on profitability are emerging as asset quality weakens owing to the economic slowdown and rising funding costs. Economic activity is expected to moderate further in 2016, before improving over the medium term.

Author : International Monetary Fund. Middle East and Central Asia Dept.
Publisher : International Monetary Fund
Page : 56 pages
File Size : 52,7 Mb
Release : 2014-07-03
Category : Business & Economics
ISBN : 9781498336567

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United Arab Emirates by International Monetary Fund. Middle East and Central Asia Dept. Pdf

This 2014 Article IV Consultation highlights that the United Arab Emirates has continued to benefit from its perceived safe-haven status amid regional instability. The economic recovery has been solid, supported by the tourism and hospitality sectors, and a rebounding real estate sector. Although growth in oil production moderated, public projects in Abu Dhabi and buoyant growth in Dubai’s service sectors continued to underpin growth, which reached 5.2 percent in 2013. The macroeconomic outlook is positive. Economic growth is expected at 4.8 percent in 2014 and about 4.5 percent in coming years, supported by a number of mega projects announced and the successful bid for the World Expo 2020.

Author : International Monetary,International Monetary Fund. Middle East and Central Asia Dept.
Publisher : International Monetary Fund
Page : 79 pages
File Size : 54,8 Mb
Release : 2021-07-07
Category : Business & Economics
ISBN : 9781513587424

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Saudi Arabia: 2021 Article IV Consultation-Press Release; and Staff Report by International Monetary,International Monetary Fund. Middle East and Central Asia Dept. Pdf

The authorities responded quickly and decisively to the COVID-19 crisis and the economy is recovering. COVID-19 cases are well below the 2020 peak and vaccination is progressing. The exit from the remaining COVID-related policy support needs to be carefully managed and the Vision 2030 reform agenda continued.

Author : International Monetary,International Monetary Fund. Middle East and Central Asia Dept.
Publisher : International Monetary Fund
Page : 108 pages
File Size : 44,9 Mb
Release : 2021-07-22
Category : Business & Economics
ISBN : 9781513592046

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Arab Republic of Egypt: 2021 Article IV Consultation, Second Review Under the Stand-By Arrangement-Press Release; Staff Report; and Statement by the Executive Director for the Arab Republic of Egypt by International Monetary,International Monetary Fund. Middle East and Central Asia Dept. Pdf

The economic and social impact of the COVID-19 pandemic over the past year has been well-managed by the authorities. Timely and prudent fiscal and monetary easing shielded the economy from the full brunt of the crisis, while alleviating the health and social impact of the shock. Sound economic policies helped deliver macroeconomic stabilization, safeguard debt sustainability, and preserve investor confidence. While growth is expected to rebound in FY2021/22, the outlook is still clouded by uncertainty related to the pandemic and the pace of vaccinations. High public debt and large gross financing needs leave Egypt vulnerable to external shocks or changes in financial market conditions for EMs. Near-term fiscal and monetary policies should thus continue to support the recovery without accumulating undue imbalances.

Author : Anonim
Publisher : Unknown
Page : 68 pages
File Size : 55,6 Mb
Release : 2006
Category : United Arab Emirates
ISBN : STANFORD:36105122094852

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United Arab Emirates, Staff Report for the ... Article IV Consultation by Anonim Pdf

Author : International Monetary,International Monetary Fund. Middle East and Central Asia Dept.
Publisher : International Monetary Fund
Page : 70 pages
File Size : 48,7 Mb
Release : 2022-06-21
Category : Business & Economics
ISBN : 9798400213342

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Qatar: 2022 Article IV Consultation-Press Release; and Staff Report by International Monetary,International Monetary Fund. Middle East and Central Asia Dept. Pdf

Swift and decisive policy response to the Covid-19 pandemic has helped to mitigate the health and economic impact of the crisis. Fast vaccination rollout has also strengthened the economy’s resilience to new pandemic waves, paving the way for a speedy recovery. As the economy rebounds, a gradual exit from pandemic support measures is underway.

Author : International Monetary Fund. Middle East and Central Asia Dept.
Publisher : International Monetary Fund
Page : 104 pages
File Size : 43,9 Mb
Release : 2023-09-06
Category : Business & Economics
ISBN : 9798400252099

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Saudi Arabia by International Monetary Fund. Middle East and Central Asia Dept. Pdf

Saudi Arabia’s economy is booming, unemployment is at a record low, the output gap is closed, inflation is contained, and fiscal and external buffers have been rebuilt. The continuation of Vision 2030 reforms has helped advance the country’s economic diversification agenda, including through reduced reliance on oil.

Author : International Monetary,International Monetary Fund. Middle East and Central Asia Dept.
Publisher : International Monetary Fund
Page : 67 pages
File Size : 55,7 Mb
Release : 2022-03-28
Category : Business & Economics
ISBN : 9798400205736

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Kuwait: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Kuwait by International Monetary,International Monetary Fund. Middle East and Central Asia Dept. Pdf

Sustained political gridlock has hobbled reforms and increased macroeconomic vulnerabilities, but a new high-level effort offers hope for resolving the impasse. The authorities have been preparing a comprehensive reform plan which, if adopted by parliament, would pave the way to address the structural and fiscal imbalances in the economy and promote sustainable and inclusive growth. The authorities responded swiftly and decisively to the COVID-19 crisis with social distancing restrictions and fiscal, monetary, and financial policy support measures. In 2021, a high rate of vaccination was achieved, although there has been a major surge in infections with the recent arrival of the Omicron variant. A nascent economic recovery is underway, supported by higher oil prices and some relaxation of mobility restrictions. However, substantial uncertainties to the economic outlook underscore the importance of phasing out COVID-19 relief measures at a measured pace as the economy recovers, and of accelerating the reform momentum to limit risks and rebuild buffers. Banks entered the crisis from a position of strength and have remained well capitalized and highly liquid.

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 47 pages
File Size : 50,5 Mb
Release : 2012-05-18
Category : Business & Economics
ISBN : 9781475503692

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United Arab Emirates by International Monetary Fund Pdf

This 2012 Article IV Consultation highlights that the economic recovery in the United Arab Emirates is continuing despite the uncertain global economic environment. The banking sector has remained well capitalized and profitable, despite a continued rise in nonperforming loans and higher provisioning. Executive Directors have welcomed the continued economic recovery and favorable near-term outlook, but noted downside risks from the uncertain global environment. Directors have encouraged the authorities to continue their efforts to sustain growth and diversify the economy, while maintaining macroeconomic and financial stability.