Macroeconomic Forecast UAE

Although timely and accurate data on the UAE's balance of payments remains sparse, we nevertheless believe that the country's current account will post a robust surplus in 2011. Higher oil prices and a sustained recovery in tourism exports underpin our view that the economy's external balances remain on relatively stable footing at this juncture, while Dubai's increasing reputation as a 'safe haven' in a volatile region could result in an influx in foreign investment through end year.

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