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Home > Country Profiles > United Arab Emirates

Country Profiles

United Arab Emirates - Economy

Whitaker's Almanack Version

Financial Outlook

The economy is estimated to have grown by 4.5% in 2013, supported by tourism, hospitality, and real estate, according to an IMF report published in January 2014. The IMF expects economic growth to remain strong in 2014, with a further expansion of around 4.5%. It added that the real estate sector in particular had seen a steep recovery, with prices in the Dubai residential real estate market increasing rapidly in selected areas. But it warned that further growth in oil production could be limited in the context of an amply supplied global oil market. It expects inflation to increase moderately, driven by the recovery in real estate and accompanying rent hikes. In January 2014 Roubini Global Economics, an economic and financial analysis company, forecast that inflation would accelerate to 2% in 2014. In November 2013 the government passed the budget for 2014, saying that the deficit would not exceed 0.26%, down from 0.5% in 2013. The economic recovery is boosting the government’s finances.

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Further reading on United Arab Emirates

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