Daniel Howlett, Regional Head of Commercial Banking Services at HSBC Bank for the Middle East, North Africa and Turkey, confirmed the bank's optimism at the speed of the UAE's economic recovery from the consequences of the pandemic Corona (Covid 19).

During a virtual press conference held yesterday, Sunday, to reveal the results of a recent study conducted by the bank, Hulett said that the bank had already noticed a remarkable increase in banking activities related to business sectors in the country Especially at the level of trade and the most vital sectors at this stage, such as the pharmaceutical and foodstuff industries.

He added that the growth was remarkable in the last six weeks, indicating that positive signs reflect recovery, such as the launch of GITEX, which indicates a gradual return to normalcy. According to the Gulf newspaper.

Hulett expects that the momentum of the economic recovery in the UAE will continue in the next stage, pointing to a number of factors that support the bank's optimism for a rapid recovery of the UAE economy, including the support plan that It was proposed by the Central Bank of the United Arab Emirates, which strengthened the banks' capabilities to face the consequences of the pandemic and made them today in a better position to benefit from the economic recovery.

and pointed out that the UAE’s recent acquisition of a strong sovereign evaluation would further enhance confidence in its economy, explaining that the UAE is also among the safest countries in terms of its success. In dealing with the coronavirus outbreak crisis.

and he expected on the other hand that access to the necessary vaccine for the virus would contribute to stimulating the tourism and hospitality movement, which will positively affect the economy of the UAE and other countries in the region that depend on the sector as part As vital to its economy as Egypt.

According to the explorer study, which the bank announced on Sunday, the difficult circumstances we witnessed this year did not affect the mood among business companies in the UAE.

The businesses surveyed in the UAE say they have adapted to the changing environment, and despite the natural decline in levels of optimism since 2019, Emirati business firms appear more Optimistic about the global average.

She explained that 78% of business firms expect their business prospects to remain the same or to become more optimistic, compared to about 67% at the global level.

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