16960
IMF Report on UAE Unfounded
World Economy

IMF Report on UAE Unfounded

A senior economist of the UAE’s biggest bank Emirates NBD, Tim Fox, said Saturday that the International Monetary Fund’s (IMF) move to downgrade the expected gross domestic product (GDP) growth for the Persian Gulf state was not right, Xinhua reported. The IMF’s downward adjustments might be obsolete as the economy of the UAE, a major oil supplier, has reached a turning point due to the drop in oil prices. The IMF downgraded its estimate for the UAE’s GDP for this year and for 2016 down to 3.2% from 4.5% and 4.4% respectively. This downgrade occurred when oil prices were already heading higher.

Short URL : http://goo.gl/AW4Fct

You can also read ...

Close to 40% of digital transformation initiatives will be supported by AI capabilities.
The digital economy in Asia-Pacific, or APAC, is expected to...
An electronic stock indicator of a securities firm in Tokyo.
As investors come to terms with the impending end of easy...
Most economists would agree that Italy needs faster economic growth if it is to resolve its public debt  and banking-sector problems in an orderly manner.
Italy’s economy is growing again, but it’s still the worst...
Maersk is expanding its competitive universe to include different types of companies.
The world’s largest container company will start looking for...
Lloyds Profits Miss Forecasts
Lloyds Banking Group PLC raised its 2017 dividend by 20% and...
NZ Says Pacific Trade Deal Will Boost GDP
New Zealand estimates a Pacific trade deal would boost its...
CBs May Top Inflation Targets
Not only will central banks meet their inflation targets, they...
Pak Current Account Gap Widens
Pakistan’s current account deficit widened 28.74% on a month-...

Trending

Googleplus