The International Monetary Fund (IMF) Consultation Mission praised the UAE's prudent fiscal policy to support sustainable economic growth at the end of its visit to the UAE from 23 October to 5 November 2019, in which it reviewed the macroeconomic indicators and financial performance of the country, as well as the most important Achievements achieved by the Ministry of Finance during the current year. Mr. Kochi Matai headed the Article IV Consultation Mission to the State.
The mission noted that the growth rate of the non-oil economy in the country may exceed 1% in 2019, and about 3% next year, to be the most growing period since 2016, as a result of the approaching date of the organization of Expo 2020 Dubai, and stimulus initiatives pumped by the government To promote the pace of economic growth in the state.
The report also predicts that gross domestic product (GDP) growth will rise to 2.5% next year. The mission noted the strong financial sector, efforts to combat money laundering and terrorist financing, enhanced fiscal transparency and commended the government's reforms to develop the non-oil economy.
IMF praises UAE's prudent fiscal policy
The International Monetary Fund's (IMF) Article IV Consultation Mission praised the UAE's prudent fiscal policy to support sustainable economic growth, at the end of its visit to the UAE from 23 October to 5 November 2019, during which it reviewed the macroeconomic indicators.