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FINANCIAL NEWS
UAE to increase economic position
07 Dec 2015
(MENAFN) The UAE has a lot of options to strengthen its fiscal position in a sequence of persistent lower oil prices.
Moreover, the combined government in the nation spending, including the federal government, is predicted to decline by 4.5 percent in 2015.
Accordingly, decreases in energy and electricity grants and non-priority spending are leading to a notable decline in government spending.
“Moreover, ample financial resources and the capacity to issue domestic debt mean that the government will be able to finance modest fiscal deficits over the medium term,” said chief economist for the Middle East and North Africa.
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