Shaikh Khalifa: UAE economy solid

Abu Dhabi: The UAE's economy is robust and will rebound with greater confidence, thanks to measures taken to reverse the impact of the global financial crisis, said President His Highness Shaikh Khalifa Bin Zayed Al Nahyan on Wednesday.

"Despite all the negative effects of the crisis, which variably hit all countries of the world, they have proven that our economy is solid and capable of absorbing its various ramifications," Shaikh Khalifa added in his speech to the Federal National Council's fourth regular session of the 14th legislative chapter. The speech was read out by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.

"We are confident that the steps and measures that we have taken so far will help our economy regain the initiative and continue the march of growth and construction with greater confidence and zeal," Shaikh Khalifa said.

Shaikh Khalifa stressed the importance of establishing a process of cooperation and mutual understanding between the FNC and the Government. "The sincere cooperation of your council enriched the Government's work as your remarks, recommendations and suggestions helped it develop public work and provide services to the public."