IMF cuts UAE’s growth forecast for 2016 as oil prices crash | The National

IMF cuts UAE’s growth forecast for 2016 as oil prices crash | The National:

"The IMF has again cut the UAE’s growth forecast for this year on collapsing oil prices, a worsening Chinese economy and looming regional public spending cuts.

The UAE will grow at 2.6 per cent this year, a cut of 0.5 of a percentage point against the fund’s October projection of 3.1 per cent growth, and the slowest growth rate the country has experienced since 2010.

The UAE’s fiscal deficit is expected to widen to 7.5 per cent of GDP, the fund expects, but will depend heavily on what happens to the oil price this year. The IMF had forecast a deficit for this year of 4 per cent."



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