Arabian Put up Employees
IMF has beneficial additional enhancing of cooperation throughout particular person emirates of the UAE, together with on the gathering, sharing, and dissemination of financial knowledge.
Ongoing structural reforms, similar to these to assist personal sector employment and feminine labor drive participation, enhance commerce and overseas funding, and harness the advantages of expertise and training will assist ship sustainable and inclusive development, the Fund stated in an announcement after concluding Article IV consultations with the UAE authorities for 2022 in Abu Dhabi.
The assertion stated reforms underneath the UAE 2050 Technique are welcome and ought to be sustained, with a give attention to diversification of the economic system, to make sure a balanced power transition and powerful long-term financial development.
Though the UAE has made vital progress on local weather initiatives, prioritization ought to be given to low-carbon investments with the best financial significance and highest potential to cut back emissions and power depth, it added. This can be aided by ongoing main investments in renewable power sources and work to develop a inexperienced taxonomy and mainstream inexperienced and sustainable finance.
The Fund welcomed the deliberate fiscal reforms, together with the anticipated introduction of a company earnings tax and gradual phasing out of enterprise payment constructions. These ought to be additional superior to underpin a gradual, development pleasant fiscal consolidation within the context of a robust medium-term fiscal framework to keep up fiscal sustainability, it stated.
Enhancement and cautious coordination of emirate-specific fiscal anchors and guidelines would guarantee a unified nationwide fiscal stance, the Fund identified.
Additionally revealed on Medium.