IDEAS home Printed from https://ideas.repec.org/p/imf/imfscr/2024-325.html
   My bibliography  Save this paper

United Arab Emirates: 2024 Article IV Consultation-Press Release; and Staff Report

Author

Listed:
  • International Monetary Fund

Abstract

The 2024 Article IV Consultation discusses that United Arab Emirates (UAE) economic growth remains strong, driven by robust domestic activity. Non-hydrocarbon growth has benefitted from healthy tourism flows and increased activity in the construction, manufacturing, and financial services sectors. The UAE has continued to experience strong capital inflows, reflecting commodity revenue, safe haven flows, and investment drawn by social and business-friendly reforms. This has boosted central bank foreign reserves and surplus domestic liquidity. Bank balance sheets have strengthened further, with capital buffers well above regulatory minima, and credit has continued to grow despite policy interest rate hikes. The outlook is subject to uncertainty and external risks, but large sovereign buffers help mitigate vulnerabilities. Intensification of geopolitical tensions and geoeconomics fragmentation, or an abrupt global slowdown, sharp correction in global asset prices, or commodity price volatility could lead to a reduction in the flow of goods, capital, and tourism.

Suggested Citation

  • International Monetary Fund, 2024. "United Arab Emirates: 2024 Article IV Consultation-Press Release; and Staff Report," IMF Staff Country Reports 2024/325, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2024/325
    as

    Download full text from publisher

    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=558835
    Download Restriction: no
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:imf:imfscr:2024/325. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Akshay Modi (email available below). General contact details of provider: https://edirc.repec.org/data/imfffus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.