The UAE’s economy is at a “turning point” as government-led stimulus, Expo 2020 investment, higher oil prices and a pause in monetary tightening by the Federal Reserve, accelerate growth momentum, the IMF said.

Domestic credit growth, higher employment and greater tourist numbers will continue to underpin economic activity, even as the real estate sector faces overhang of supply, the IMF noted in its report after completing its mission to the Emirates “to update itself on recent developments and the economic outlook and to discuss macroeconomic policies”.