His primary role has been the preparation of the water demand forecast and other vital researches and studies for the sector. The water demand forecast he and his team produce is used as the basis of the multi-billion Dirham Production Capacity Expansion Plan.
Abundance of natural resources hydrocarbons.
Large asset holdings and investments held overseas. Strong financial hub thanks to the Abu Dhabi sovereign wealth fund Relatively liberal business and trading environment. Solid fiscal and current accounts sound, despite some short-term effects from current weaker oil prices.
Weaknesses Despite diversification including further developments in the transport and travel sectorsthe economy overall is affected by the vagaries of international oil and gas markets.
High dependence on global and regional markets and events. Fixed exchange rate peg to the USD limits independence of monetary policy. Speculative flows stock market, real estate etc. Data provision is poor for a high income economy.
Economic diversification has lowered oil-dependency today oil accounts for only one third of total exports and promoted non-oil growth, mainly in the financial and tourism sectors.
Still, the overall economic cycle closely follows the oil price. Downward pressures on the economy include the extension of the OPEC deal to limit oil production until Marchannounced in May Upside opportunities involve the expected recovery in oil prices in which will improve liquidity and bolster business sentiment in the medium term.
Expo investments and an increase in the global trade momentum will also contribute to the growth acceleration starting Fiscal measures reach their limits To limit the economic downturn triggered by the oil price crisis, the UAE implemented a fiscal adjust-ment scheme. The fiscal account was in surplus until before dropping to still managable nega-tive territory.
The fiscal deficit bottomed out at Higher energy prices, subsidy cuts and the VAT introduction in will contribute to a rise in inflation from 1. The recovery of oil prices should enable the surplus to improve gradually in the next years.INTRODUCTION.
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In brief. The UAE will remain politically stable domestically in despite regional tensions. A possible transfer of power in Abu Dhabi from the current ruler, who is in poor health, to the crown prince will pass smoothly.
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The images of human trafficking are all too often reduced to media tales of helpless young women taken by heavily accented. On the other hand, in the short term, the country will benefit from arrivals of GCC tourists who would normally visit Qatar, but will now visit the UAE instead.
The country should remain attractive for investors thanks to its political stability.