The UAE’s Economy is Durable, but Still Has a Long Way to Go | Push Digits Chartered Accountants

The UAE’s Economy is Durable, but Still Has a Long Way to Go

Home - Blog News - The UAE’s Economy is Durable, but Still Has a Long Way to Go

When it comes to making a decision to invest, greed is the last thing that should be on your mind. In the unpredictable business environment, it is crucial to hold a grip upon your emotions and choose the good stocks at cheap prices, or sell your stocks in small amounts, to make them seem inexpensive in relation to their original values. In the recent times, spreading one’s wings to make money from a variety of products has become important and one region that should take note of this is none other than the UAE.

Despite a vast amount of its income coming from the fossil fuels, the UAE’s dependency on its oil industry has prominently reduced, owing to the recent decrease in petroleum prices. This has caused the region to become more durable when compared to its European neighbors. While this is a step in the right direction for the nation’s economy, it still has a long way to go. Records show that following the worldwide financial crisis, UAE’s debts to GDP shares have not noticeably decreased since summiting in the year 2010, and the decrease in oil prices isn’t helping the nation either. Even though oil will once again take the front seat in no time, it is important for the UAE to look into diversifying its business options for an economically brighter future.

Presently, China is helping the UAE to get back on its feet, but because of the recent slowdown in the country, the conditions are threatening for the UAE and other Middle East economies as well. With the possibility of a hike in its rate, the UAE is hoping to invest in the US dollar to look after its urgent financial issues. Additionally, the nation is also expecting a global inflation, so that they can invest in precious metals like silver and gold in the long-term.

So, even though the UAE’s economy is ambitious and resilient, they need to try out many different options to maintain a sustainable and prominent trading environment.


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