Thursday 08 December 2022 - 1:37:31 pm

UAE among top ten in 11 banking, fiscal competitiveness indexes in 2020

ABU DHABI, 25th April, 2021 (WAM) -- The UAE has strengthened its leading position in international competitiveness indexes, related to banking and fiscal policies, by securing places among the top 20 countries in 11 related competitiveness indexes in 2020.

This overall achievement highlights the flexibility and attractiveness of the policies implemented by the UAE that support national economic growth.

The Federal Competitiveness and Statistics Centre (FCSC) documented the international successes that ranked the UAE among the top 10 countries, in terms of banking and fiscal policies, most notably the IMD World Digital Competitiveness Ranking and the World Economic Forum Global Competitiveness Report 4.0, as well as the Legatum Prosperity Index and the IMD World Competitiveness Yearbook.

Four international institutions ranked the UAE in first place in four related sub-indexes, which are the Credit Gap Absence Index, the Depth of Credit Information Index, the Freedom of Owning Foreign Currency Bank Accounts Index, and the Financial Transactions Restraints Index.

The IMD World Competitiveness Yearbook ranked the UAE in fifth place globally in the Credit Index, while the IMD Digital Competitiveness Ranking and the IMD World Competitiveness Yearbook ranked the UAE as the sixth globally in Banking and Financial Services Index.

The Legatum Prosperity Index ranked the UAE in seventh place globally in the Confidence in Financial Institutions Index, while the IMD World Competitiveness Yearbook ranked the country in seventh place in the Central Bank Policy Index, the Foreign Exchange Rate Stability Index and Interest Payment Index.

The comparative analysis of the UAE’s recent successes in competitiveness indexes, covering various sectors, marks its unprecedented international and regional achievements, supported by the Federal Government’s economic and fiscal policies.