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UAE’s wealth cushions impact of crisis

Posted on 09 December 2008

From Saudigazette.com.sa: UAE will be able to dodge a severe blow from the global economic crisis as the country is viewed to still maintain fiscal surplus in 2008 and 2009 since it has the lowest break-even oil price in the GCC of $23 (Dh84.48) per barrel against the IMF’s baseline petroleum price projection of $68 per barrel for 2009.

According to IMF estimates, inflation is expected to drop to 10.8 percent next year from 12.9 percent this year, while the current account surplus would reach $55.3 billion against $60.9 billion in 2008….. Full Article: Source

 
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