Washington: The International Monetary Fund (IMF) forecasts a 4 percent growth in the UAE’s real gross domestic product (GDP) for 2024.
In a statement released today, following the completion of consultations under Article IV by a team of its experts visiting the UAE, the IMF remarked that the country’s economic growth is widespread, propelled by robust activity across tourism, construction, manufacturing, and financial services sectors.
They further projected that the UAE would maintain high fiscal and external surpluses, supported by relatively strong oil prices.
As per the IMF, the overall government surplus is anticipated to reach approximately 5 percent of the UAE’s GDP in 2024, while the current account surplus is estimated to be around 10 percent of GDP for the same year.
Furthermore, the IMF observed that banks in the UAE generally hold significant capital and liquidity reserves.
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