Can oil riches sustain economic growth?: United Arab Emirates economic outlook H2 2016
Fiscal pressure will increase in 2016 as the government's fiscal deficit deteriorates due to falling oil revenues. However, with vast holdings of reserve assets and good access to international financial markets, the government will have no trouble financing the deficit in the short term. Sustaining longer term growth will be more of challenge given that oil production will peak next decade and labour growth will slow dramatically. Can the UAE utilise vast oil wealth to diversify the economy?
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Country economic data United Arab Emirates Q3 2016.xls