IMF visit UAE to talk business
The UAE Ministry of Finance (MoF) recently received an International Monetary Fund (IMF) delegation at its headquarters in Abu Dhabi. The meeting highlighted the Ministry’s achievements and policies. This meeting was held in preparation for the IMF delegation’s upcoming visit in April.
The IMF delegation was welcomed by a group of MoF officials led by HE Younis Haji Al Khouri, Undersecretary of the Ministry of Finance and while Harold Finger headed the IMF delegation. Other attendees of the meeting included HE Khalid Ali Al Bustani, Assistant Undersecretary of International Financial, Saeed Rashid Yateem, Assistant Undersecretary for Resources and Budgets, in addition to other MoF employees and experts from IMF.
The meeting shed light on the financial policies and legislations issued by MoF in 2012, as well as the most important developments in public debt management, revenues and budgets. The IMF delegation highlighted the strength of the UAE’s economy and its continuous growth which is positively reflecting on the UAE’s development as a whole.
The IMF predicted that the UAE’s GDP will grow by 3.1 per cent in 2013, as a result of economic, investment, trade, tourism and logistics activities. In addition, it expected that the non-oil sector will continue to prosper throughout 2013 with the aid of high levels of capitalisation and liquidity by the banking system in the UAE.
HE Younis Haji Al Khouri, Undersecretary of MoF said, “We will continue here at the Ministry of Finance to coordinate with the International Monetary Fund regarding Article IV as this article reflects the economic growth the UAE has achieved to date. I would also like to emphasise the role of the Ministry in supporting and strengthening the UAE’s economy through the legislation it is issuing and by receiving consultations from renowned economists. These efforts aid in strengthening the fiscal policies of the UAE.”