The Middle East Economy

While the Abu Dhabi Economic Vision 2030 strategy provides a clear path to growth and diversification, reaching its goals – which include an average annual growth rate of 7% until 2015 and 6% annually thereafter; significant expansion of the non-oil sector, with the aim of it accounting for 64% of GDP by 2030; and a 50% or greater increase in GDP per capita – is a...

Although inflation had been a growing issue prior to the 2008-09 global economic crisis, these concerns have since been receding. In December 2008, the inflation rate hit an all-time high of 12.3% – a level high enough to present a significant challenge for the Central Bank of the UAE (CBU). Finding its ability to respond to the trend through...

The strong fiscal position of the UAE has meant that it has never been compelled to turn to the debt markets to balance its budgets, and comments in recent years by the federal government suggest that this is not likely to change in the short term. While the government has moved to formulate legislation that would allow for public debt issuances...