The economic recovery has continued to strengthen in the UAE, driven by favorable oil prices and capital inflows, the International Monetary Fund (IMF) said in June in its 2013 Article IV consultation with the UAE. The real estate sector, which had been impaired since the 2009 crisis, had stabilized in Abu Dhabi and began to recover in Dubai.
At the same time “the repair of balance sheets of government-related entities (GRE) that were at the center of the 2009 crisis continued but is not yet complete,” the IMF noted. (CONTINUED - 619 WORDS)
