UAE economy is strong and resilient to curb crises: Official – Gulf Today

  • Date: 29-Jul-2020
  • Source: Gulf Today
  • Sector:Economy
  • Country:UAE
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UAE economy is strong and resilient to curb crises: Official – Gulf Today

UAE economy is strong and resilient to curb crises: Official

3 hours ago

Younis Haji Al Khoori, Under-Secretary of Ministry of Finance. File

Younis Haji Al Khoori, Under-Secretary of Ministry of Finance, has said that the United Arab Emirates has proven itself to be a model to the world when it comes to dealing with the novel coronavirus, COVID-19, thanks to the guidance of the country's wise leadership, the cooperation between all authorities, and the community's commitment and adherence to the precautionary measures to mitigate the spread of the virus.

''The national economy of the UAE is strong and resilient and has the ability to overcome such crises,“ he added.

The general framework of the economic strategy of the UAE in facing the pandemic is based on two main phases, he noted, explaining the first - in the short term - is the gradual opening of the economy and business activities while taking into account the health precautions. "We also supported the most affected sectors with economic stimulus plans, which, totalled to date, AED282.5 billion, thereby protecting entrepreneurs and SMEs.

"This links the funds to the beneficiary sectors based on well-defined plans and effective mechanisms,'' he said in an interview published in the MoF e-Newsletter for