Macroeconomic Forecast UAE

October 2007 | Macroeconomic Forecasts

The IMF puts real GDP for 2006 at 9.4%, in its latest Article IV review of the UAE, just above our 9.0% estimate, which bodes well for another very good performance in 2007. We are projecting a rate of 7.1%, as a result of a small contraction in the oil sector (-2.6%), offset by continued outperformance in the non-oil sector (10.5%). Thereafter, we see a cyclical slowdown to 5.8% in 2008.

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