Al Mansouri says UAE affected, but taking steps to stem crisis
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The UAE and the Gulf region are affected by the current global financial crisis, Sultan Bin Saeed Al Mansouri, Minister of Economy, told the media on Tuesday.
"People in general think that the current economic crisis is
catastrophic in nature, but in reality, it is a huge opportunity for us
in the UAE to look realistically at our growth strategies," he told the
media.
"We are approaching it in a very effective way, we have already taken
action in order to make sure that the UAE economy will continue to grow
in the same way as before," he said.
The leadership has clearly understood the importance of the current
global economic turmoil, the President, the Prime Minister and the
government as a whole in coordination with the local government are
taking effective measures to make sure things move normal in the UAE
economy, he said.
"Next year will be a testing year for the UAE and rest of the world. We
are coordinating with government departments and local government to
arrive at an action plan to meet to the situation," he said.
"A cabinet decision was made earlier to form a committee to oversee and coordinate actions taken to manage the situation.
"The committee, including Obaid Humaid Al Tayer, Minister of State for
Financial Affairs, myself and the Governor of the Central Bank is
assessing the situation on a day-to-day basis ... we can't pre-judge
and thus we are monitoring and acting accordingly."
Source: Gulfnews
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