Sultan Bin Saeed Al Mansouri
A file photo of UAE's Minister of Economy Sultan Bin Saeed Al Mansouri Image Credit: Atiq Ur Rehman/Gulf News

Abu Dhabi: An Interim Committee has been set up by the Cabinet to deal with the negative impacts of coronavirus on national economy.

The committee, chaired by Sultan Saeed Al Mansouri, Minister of Economy, includes representatives from various competent bodies, as part of government preventive measures to tackle the repercussions of the spread of the COVID-19 virus on economy.

The move, which is part of proposed measures to boost the national economy and its various activities, follows the Cabinet’s approval of a Dh16 billion stimulus economic package of initiatives to support the sustainability of businesses and provide an additional impetus to the national economy, complementing the recent economic packages announced by the Abu Dhabi government, Dubai and the Central Bank, totaling Dh126.5 billion.

The Committee will propose measures to reduce the negative consequences of the COVID-19 coronavirus on the country's human resources and economic sector.

It will submit its suggestions and proposal plans to the Cabinet and coordinate the implementation of its proposed measures with various federal and local authorities when needed.

The committee should emphasise the implementation of proposed measures in line with their objectives. It is mandated to assess the actual impact of the proposed measures and their efficiency to deal with the economic developments resulting from the coronavirus outbreak.

The committee will submit to the Cabinet weekly reports on economic developments and the economic situation under the current circumstances current.