UAE economy to recover next year, little impact from VAT: IMF

UAE economy to recover next year, little impact from VAT: IMF:

"The United Arab Emirates economy is expected to recover gradually next year without suffering a significant blow to growth from the introduction of a 5 percent value-added tax in January, a senior International Monetary Fund official said. Natalia Tamirisa, IMF mission chief to the Ara b world’s second biggest economy, said Dubai’s spending on preparations to host the Expo 2020 world’s fair would help to boost growth. On Sunday, Dubai announced a 19.5 percent leap of spending in its 2018 state budget, largely because of higher allocations for infrastructure."



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