17 Jul 2017, Petia Krasteva, EMIS Editor
IMF forecasts UAE’s GDP growth to accelerate to 3.4% in 2018
As the country opts to diversify from oil and IMF said the growth of non-oil economy will average above 3% a year in the medium term, Gulf News added.
The IMF, however, admits downside risk prevail from a possible new fall in global oil prices. This highlights need for the UAE authorities to continue with structural reforms and fiscal consolidation efforts starting with a timely introduction of the VAT and excise duties, the statement reads.
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