United Arab Emirates Government Polices To Encourage Economic Diversification From The Oil Base

Oil and Non-Oil Economy of the UAEThe general dichotomization of the economy of the mix in Arab Emirates is into the fossil anele and non-oil sphere of influences . While the center outfit remains qualified on oil production , the linked Arab Emirates is focusing on the development of its non-oil field as break in of its diversification object However , its baron to develop fully its non-oil sector depends on the performance of its oil sector . single consideration is the comparative contribution of the oil and non-oil sectors to the economy . The other consideration is the ability to the oil-sector to support the diversification plan in the non-oil sector . abed and Hellyer (2001 explained that in 1998 the production of crude oil accounted for less than a keister or 22 per centum of gross domestic help product .
However , hitherto if the contribution of crude oil production to aggregate rig is less than a quarter , the impact of the sector on the economy is much large Oil exports contributed 37 shareage of earnings in exotic exchange and 60 percent of humanity sector receipts . The oil sector contributes to the aggregate economy in 4 fronts , which are business investment funds household income and consumption , public spending , and net exports . This substantiates the telephone call that the oil sector comprises the ground tackle of the UAE economy . pass on growth occurred in the oil sector in 2006 with the Min istry of learning and Culture (2006 ) repor! ting that the oil and fuck up sector contributed 28 percent to aggregate output . simultaneously in that location is also growth in the...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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