UAE economy in ‘strong position’ and growing, minister says
The UAE economy has passed the recovery phase and is registering growth in key indicators, according to the government.
The national economy is in a “strong position” and stands at “high readiness” for the future, the UAE Media Office said in a tweet, citing Minister of Economy Abdulla bin Touq.
The UAE, which approved 33 initiatives in August 2020 to support various sectors during the Covid-19 pandemic, said progress on the three-phase plan is under way.
The first phase of the recovery and economic advancement plan, which provided immediate support to businesses, is 100 per cent complete, the UAE Media Office said, citing the committee tasked with co-ordinating and following up on the carrying out of the 33 initiatives.
The second phase, which provides complementary support to sectors to enable a rapid economic recovery, is 50 per cent complete, it said.
The third phase will involve the provision of “integrated support to vital sectors…
