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Arabian Put up Workers
IMF has really helpful additional enhancing of cooperation throughout particular person emirates of the UAE, together with on the gathering, sharing, and dissemination of financial information.
Ongoing structural reforms, reminiscent of these to help personal sector employment and feminine labor drive participation, improve commerce and international funding, and harness the advantages of know-how and training will assist ship sustainable and inclusive progress, the Fund stated in a press release 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 must be sustained, with a deal with diversification of the economic system, to make sure a balanced power transition and robust long-term financial progress.
Though the UAE has made important progress on local weather initiatives, prioritization must be given to low-carbon investments with the best financial significance and highest potential to scale back emissions and power depth, it added. This shall 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 price constructions. These must be additional superior to underpin a gradual, progress pleasant fiscal consolidation within the context of a powerful 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 printed on Medium.
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