The repercussions of the Covid19 on the overall indicators of the economy in the United Arab Emirates | ||||
International Journal of Multidisciplinary Studies on Management, Business, and Economy | ||||
Volume 5, Issue 2, December 2022, Page 1-35 PDF (1.51 MB) | ||||
Document Type: Original Article | ||||
DOI: 10.21608/ijmsbe.2022.269131 | ||||
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Authors | ||||
Hazem Hassanein Muhammad1; Saddam Elsayed Yassin2 | ||||
1PhD in Economics - Member of the Egyptian Association for Political Economy, Statistics and Legislation in Cairo | ||||
2Master's Researcher in Economics - Faculty of Commerce - Ain Shams University | ||||
Abstract | ||||
The current study aimed to analyze the most important repercussions of the Covid 19 on the indicators of the UAE economy, in order to monitor the economic recovery policies adopted by it. Through the descriptive analytical approach, it was found that the economic repercussions of the Covid 19 have imposed a general closure on everyone, as theCovid 19 pushed the world into a complex crisis, which brought the global economy into a state of severe recession. The pre- Covid 19 picture shows that the GDP reached at constant prices of the US dollar in 2010 in the UAE, from 198 billion dollars in 2000 to 421 billion dollars in 2019. The rate of economic growth during the period (2000-2019) recorded an average of 4.2%. At the same time, the unemployment rate during the period (2000-2019) did not exceed 3%. The labor market participation rate is 83% in 2019. The outbreak of the Covid 19 pandemic resulted in the UAE economy contracting by 7.8% year-on-year in the second quarter, according to estimates by the UAE Central Bank, while non-oil GDP is expected to have decreased by 9.3% in the second quarter, after the slightest drop of 2.7%. % In the first quarter. Foreign exchange reserves in the United Arab Emirates decreased to 353.12 billion dirhams in May from 371.58 billion dirhams in April of 2020. | ||||
Keywords | ||||
Covid 19; Macroeconomics; Growth; Trade; Monetary Reserves; UAE | ||||
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