Investor Presentation August/September 2009
UAE Economic Update
Highlights
Real GDP Growth Forecasts (1)
■ UAE was impacted by external shocks including weaker oil prices, a
credit squeeze, and declining world trade
■ UAE's accumulated surpluses over recent years enable it to engage in
powerful counter-cyclical fiscal policies
Monetary policy is also responding to the crisis, with rates being cut
and liquidity provided. More steps are expected to be forthcoming
2008
2009
2010
UAE
7.4%
0.0%
3.0%
UK
0.7%
(3.5%)
(0.3%)
Eurozone
0.7%
(3.0%)
(0.2%)
Germany
1.0%
(3.3%)
(0.2%)
■ Correction provides potential to put growth back on a more sustainable
long-term path
US
1.1%
(3.5%)
1.4%
China
9.0%
5.7%
7.6%
■ Dubai is a strategically located international trading hub with some of
the world's best air and sea ports serving over 205 destinations
Japan
(0.7%)
(6.7%)
0.8%
Singapore
1.3%
(4.6%)
2.2%
Promising Signs for Oil (US$)
UAE Real GDP - YoY (%)(1)
160
140
100
120
≈ ± 2 ¤ ON
0
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Brent oil $ per barrel
Rolling 1 year moving average
1) EIU, Emirates NBD forecasts
Emirates NBD
20
20
15
10
5
LO
0
-5
2006
2007
I Government spending
Fixed Investment
2008
Private consumption
Real GDP grow th
2009
2010
Export G&S
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