Opinion and Editorial

KT edit: Post-Covid recovery

Filed on November 2, 2020

The pandemic could be a turning point for countries that are willing to learn from this crisis

The UAE is working towards a post-Covid19 recovery plan and the country could be the first off the blocks in the region and beyond. Most of the measures announced by the government so far have one theme in common: Enforce more efficiency into the system and spearhead economic recovery. The setting up of a National Covid-19 Crisis Recovery Management and Governance Committee will be instrumental in identifying sectors and areas that need attention. Besides, the government has also approved the federal budget of Dh58 billion and signalled that all national and vital projects will continue to be implemented in 2021. Even if the figure is tad lower than last year, it could be boosted by additional layouts when and where needed, just like this year in the form of stimulus packages.

The Covid-19 pandemic has thrown multiple challenges at governments. The health crisis has morphed into an economic and social catastrophe and thrown the private sector out of kilter. It is the government stimulus that has been helping people and supporting industries. The budgeting efficiencies and spending priorities of the government in the UAE have kept vital projects going. Besides, each emirate has been additionally pumping resources to keep the economic engines humming. Dubai’s announcement of 29 projects, for instance, point at the government’s willingness to invest in ways that enhance the social well-being of residents and at the same time help in generating work and employment. The pandemic could be a turning point for countries that are willing to learn from this crisis. In the UAE, we could see strengthening of the agriculture and other sectors that looked like weak spots. Going forward, such sectors could become our strengths.

ERROR: Macro /ads/dfp-ad-article-new is missing!
MORE FROM Opinion and Editorial
MORE FROM Khaleej Times
CurrentRequestUnmodified: /editorials-columns/derailing-a-deal macro_action: article, macro_profile: ,1098,1000 macro_adspot:
KT App Download
khaleejtimes app

All new KT app
is available
for download:

khaleejtimes - android khaleejtimes - ios khaleejtimes - HUAWEI AppGallery