The IMF Press Center is a password-protected site for working journalists.
Sign up to receive free e-mail notices when new series and/or country items are posted on the IMF website.
Modify your profile
Publication Date:
June 26, 2023
Electronic Access:
Free Download. Use the free Adobe Acrobat Reader to view this PDF file
Summary:
The 2022 Article IV Consultation highlights that United Arab Emirates (UAE) economic growth strengthened in 2022, benefitting from a rapid and effective coronavirus disease response, supportive fiscal measures, and the benefits of earlier social and business-friendly reforms. The economic outlook remains positive, supported by strong domestic activity. Overall, gross domestic product is projected to grow at 3.6 percent in 2023, with non-hydrocarbon growth of 3.8 percent driven by continued tourism activity and increased capital expenditure. Strong reform efforts continue under the UAE 2050 strategies. Advancement on Comprehensive Economic Partnership Agreements will boost trade and integration in global value chains and further attract Foreign Direct Investment. In addition, the benefits of artificial intelligence and digitalization and investments in enabling infrastructure will further support economic diversification, foster a smooth energy transition, and help address vulnerabilities from global decarbonization efforts. Long-term vulnerabilities from global decarbonization efforts are being addressed through commitments to climate initiatives and a balanced approach to energy transition.
Series:
Country Report No. 2023/223
Subject:
Environment International organization Monetary policy Prices Public debt
Frequency:
regular
Publication Date:
June 26, 2023
ISBN/ISSN:
9798400245381/1934-7685
Stock No:
1AREEA2023001
Format:
Paper
Pages:
69
Please address any questions about this title to publications@imf.org
© 2022 International Monetary Fund. All rights reserved.