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International Monetary Fund. Middle East and Central Asia Dept.

The UAE’s Digital Economy strategy aims to double the contribution of the digital economy to non-oil GDP to 20 percent by 2031. The UAE government is taking concrete steps to establish a strong digital economy and has adopted digitalization across both the public and private sectors as a key growth pillar, with the aim also of becoming the regional and global leader in digitalization. Through its potential to increase efficiency in factor markets and easing of the delivery of services in the public sector, digitalization can have significant multiplier effects on economic growth. Results indicate a higher multiplier of ICT investments on non-oil GDP compared to non-ICT investments, indicating the propagation effects of ICT investments in the non-oil sector with a potential to support diversification of the economy.

Nagy Hanna

For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.