The UAE has weathered the global economic and financial crisis well due to strong fundamentals as well as timely policy responses, a new International Monetary Report shows.
The UAE's GDP growth this year is expected to decline to 2.3 per cent, down from 4.9 per cent last year, as fiscal consolidation continues. Thwe UAE's GDP is expected to reach $386 billion (Dh1.41 trillion) this year, up from $360 billion (Dh1.32 trillion) last year, according to the report.
The report also address how the UAE has handle its outstanding public debt, which has reached $252.9 billion (Dh928.64 billion) — more than 70 per cent of the country's gross domestic product (GDP).
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