United Arab Emirates Economic Outlook
October 4, 2016The UAE has proven fairly resilient to the recent economic headwinds triggered by low oil prices and weak global demand, due to its relatively diversified economy compared to that of neighboring Gulf countries. However, GDP growth is slowing down and lower oil revenues have strained public finances, increasing the need for a tight fiscal adjustment. The UAE has made major cuts in transfers to Government-Related Entities (GRE) and it implemented a new subsidy reform early in 2016, but its budget deficit is expected to increase further this year. On the external sector side, the current account is expected to continue narrowing but to remain positive thanks to healthy non-oil exports.
United Arab Emirates Economy Data
5 years of United Arab Emirates economic forecasts for more than 30 economic indicators.
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United Arab Emirates Facts
|Exchange Rate||3.67||0.0 %||Oct 25|
|Stock Market||0.2||-0.67 %||Oct 25|
United Arab Emirates Economic Growth
October 4, 2016Large-scale investments in the run-up to Expo 2020 are expected to start materializing this year and will help to continue diversifying the economy. However, even if the latest OPEC agreement to curb production spurs oil prices, this will not necessarily be enough to boost the government’s strapped finances. FocusEconomics panelists expect that GDP will rise 2.4% in 2016, which is unchanged from last month's projection. In 2017, the panel sees GDP growth accelerating to 2.6%.
United Arab Emirates Economic News
October 10, 2016
In August, consumer prices dropped 0.28% over the previous month, which contrasted the 0.29% increase observed in July.
October 5, 2016
The Emirates NDB Purchasing Managers’ Index (PMI) dropped to a three-month low of 54.1 in September from August’s 54.7.
September 9, 2016
In July, consumer prices rose 0.29% over the previous month, which came in below the 0.46% increase observed in June.
September 5, 2016
The Emirates NDB Purchasing Managers’ Index (PMI) dropped to 54.7 in August from July’s ten-month high of 55.3.
July 27, 2016
In June, consumer prices rose 0.46% over the previous month, which followed the 0.26% increase observed in May.