Macroeconomic Forecast UAE

We estimate that last year, the current account balance dropped into negative territory for the first time since 1998, to the tune of US$1.7bn (0.8% of GDP). Higher oil prices in 2010 should easily propel the balance back into the black. We are forecasting healthy current account surpluses of 8.1% and 8.8% of GDP in 2010 and 2011 respectively.

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