UAE: The IMF optimistic about economic growth within the UAE.

The International Monetary Fund (IMF) has declared it is optimistic about the future of the UAE economy, stating that “growth is projected to recover over the next few years”. This optimism comes after several years of economic slowdown following the decline of oil prices in 2014, with growth expected to be driven by stablising oil prices and an easing of fiscal consolidation due to a pickup in public investment in the lead up to Expo 2020.

The IMF also complimented the soundness of the UAE financial sector, listing it as a factor behind the continued health of the UAE economy, along with existing financial buffers and a diversified business-friendly environment.

Despite the positive outlook for the economy, this optimism is not shared by consumers at an individual level, with RFi Group data showing that 49% of consumers are concerned (4+ on a scale of 1 to 5, where 5 is very concerned) about their current financial situation, which is significantly larger than the 41% from 6 months ago.

http://www.hellenicshippingnews.com/uae-economy-to-bounce-back-as-oil-prices-recover-says-imf/
http://www.arabianbusiness.com/content/376343-uae-economic-growth-now-on-steady-footing-says-imf

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