"The fiscal policy bolstered economic growth and the competitive business environment, leading to the UAE being ranked as the fastest-growing economy in the year 2022," adds Dubai's Deputy Ruler, Deputy Prime Minister, and Minister of Finance Sheikh Maktoum bin Mohammed, praising the Ministry of Finance’s team for their efforts.

Central banks are prioritizing fiscal and monetary policy coordination to boost macroeconomic stability, cut inflationary pressures, and support long-term growth.

"Now is the time to face the three uncomfortable truths ... Inflation remains sticky; financial stresses could make price and financial stability a difficult balancing act; and more upside inflation risks will likely come our way," she adds, emphasizing the crucial role that the return to price stability plays in...

The Kingdom has the highest economic growth among the G20 countries in 2022, driven by strong oil production and non-oil sector growth, says the latest IMF report.

Oil exporters are set to experience slower growth due to a shift from oil to nonhydrocarbon activities, says Jihad Azour, Director of IMF's Middle East and Central Asia Department.

OPEC Monthly Oil Market Report has predicted the UAE's economic growth to quicken in 2022.

Advanced economies, especially the US, drive forecast upgrade as they are expected to grow by 5% in 2021