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Arabian Publish Employees
IMF has advisable 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 help non-public sector employment and feminine labor power participation, improve commerce and overseas funding, and harness the advantages of expertise 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 below the UAE 2050 Technique are welcome and must be sustained, with a deal with diversification of the financial system, to make sure a balanced vitality transition and powerful 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 cut back emissions and vitality depth, it added. This will likely be aided by ongoing main investments in renewable vitality 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 charge 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 take care of 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.
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