UAE is well positioned to face global economic headwinds, Mohamed Alabbar says – The National

UAE is well positioned to face global economic headwinds, Mohamed Alabbar says – The National

The UAE’s economic outlook is robust, supported by low government debt, diversified revenue streams, good governance and strong macroeconomic management, said Mohamed Alabbar, whose business interests include e-commerce platform Noon, retailing business Americana and digital bank Zand.

“Global economic headwinds will have some impact on the economy and the businesses in the UAE, but these are within the manageable limits,” Mr Alabbar told The National on the sidelines of the dual listing of Americana’s shares on the Abu Dhabi Securities Exchange and Tadawul on Monday.

The experience of the UAE in containing the coronavirus pandemic-induced economic slowdown, managing the impact of supply chain disruptions and a global food crisis following Russia’s war in Ukraine has given the government and companies valuable lessons in dealing with adverse global events, he said.