São Paulo – The COVID Economic Recovery Index from the Horizon Research Group has shown that the United Arab Emirates are the best-recovering Arab economy. The index rated 122 countries overall, and the Gulf nation ranked 37th. It looked into recovery on the basis of overall health resilience, shock absorption ability, and economic strength.
The second-best-recovering Arab country is Saudi Arabia, at 48th. Brazil ranked 51st. The Emirates News Agency (WAM) imputed the UAE’s rating to its “long-term economic agility,” its “robust, adaptive institutional system” and a “high literacy rate.”
According to the report, although high-income countries like the UAE, Luxemburg and Singapore may have been severely affected early on, they have shown greater economic resilience, which will support their recovery.
Those countries, the report argued, are “small, open economies highly dependent on international trade and/or flows of capital.” They mostly have “strong institutions and well-educated populations and are digitalized.”
“Once the initial shock has been weathered,” according to the Horizon Research Group, “these
countries have a strong capacity to recover.” The report advises on short-term stimulus to avoid job losses and bankruptcy as much as possible.
Translated by Gabriel Pomerancblum
