15 Mar 2012
(MENAFN) The International Monetary Fund (IMF) expected UAE’s economic growth to slow to 2.3 percent this year from an estimated 4.9 percent in 2011, as the Gulf country gradually consolidates fiscal policy, Reuters reported.
IMF said that strong oil prices and strong trade with Asia helped UAE economy recover from the 2009/2010 Dubai debt crisis, which led to a USD25 billion debt restructuring at state-owned Dubai World.
UAE authorities’ plan to gradually consolidate fiscal policy, after heavy spending during the debt crisis, are appropriate.
UAE’s economic outlook, however, could be threatened by the uncertain global economic and financial environment, and any renewed worsening of the global situation could make it more difficult for the UAE’s government-owned companies to meet some of their maturing external debt, IMF warned.
IMF also said that state-linked entities made a noticeable progress in debt restructuring, but they still faced high refinancing needs and continued reliance on foreign funding.
13 Aug 2025
BBK’s BD 5,000,000 Al Hayrat scheme awards BD 680,000 to 390 Al Hayrat winners in August and September
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
08 Jul 2025
BBK proudly launches the third edition of “Grow” and welcomes 20 Bahraini graduates
03 Jul 2025
BBK hosts executive leadership session on digital assets in collaboration with Rain
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
16 Jun 2025
BBK and CrediMax Offer Exclusive 20% Discount on Turkish Airlines Flights for Cardholders
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more