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.
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
26 Jan 2026
BBK Enhances Autumn Fair 2026 Experience with Customized Rewards and Premium Services
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