Sheikh Mohammed reveals UAE created 248,000 jobs last year
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Sheikh Mohammed reveals UAE created 248,000 jobs last year

Sheikh Mohammed reveals UAE created 248,000 jobs last year

Despite a global economic slowdown, the UAE has remained economically resilient, he said

The UAE created over 240,000 jobs last year, Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai has revealed.

During the pandemic, when a large majority of people worldwide became unemployed due to the global economic slowdown, the UAE persevered and remained resilient, he said.

Taking to Twitter, Sheikh Mohammed said the country managed to stay ahead due to ‘effective crisis management’.

“The world economy shrank 4 per cent, international trade dropped 20 per cent, and the world lost millions of jobs in 2020,” Sheikh Mohammed tweeted.

“In the same year, the UAE economy created 100,000 jobs in the retail sector and e-commerce and 148,000 jobs in the financial, technology and telecommunications sector. We repeat: Crisis management creates opportunities, and management crises destroy gains.”

The UAE’s non-oil GDP is expected to grow by 3.6 per cent by the end of 2021, the Central Bank of the UAE has estimated.

In the wake of the Covid-19 pandemic, the total value of economic support in the form of packages and incentives has crossed Dhs388bn, contributing to business continuity, commercial activities and the ability to grow in vital sectors.

Read: UAE’s non-oil GDP to grow 3.6% by end 2021

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