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Email this article: UAE swings into US$11 billion fiscal surplus in 2011, says IMF
Posted: Sun June 10, 2012 10:03 pm
UAE. The United Arab Emirates' public finances swung into a surplus of 2.9% of economic output in 2011 after two years of deficits as robust oil income offset an increase in government spending, a report by the International Monetary Fund showed.
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INTERNATIONAL. If Russia's "pivot to Asia" results in Moscow and Beijing trading oil between them in a currency other than the dollar, that will represent a major change in how the global economy operates and a marked loss of power for the U.S. and its allies."
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