Hussam Abdulnabi (Dubai)
Economic experts have unanimously agreed that the directive of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the State, “may God protect him”, to restructure the “social support program for low-income people” into an integrated program amounting to 28 billion dirhams, will have a global positive and wide-ranging repercussions and unprecedented repercussions from The economic, social and financial aspect, especially as it comes at a time when governments of developed countries have announced their inability to support their citizens and enable them to face the increase in the cost of living due to the increase in global inflation.
They said that in light of the restructuring of the “social support program for low-income people”, the UAE will have supported a high percentage of the needs of families and individuals, whether through financial support for housing, or allowances for inflation, which include food subsidies, electricity, water and fuel allowances, noting that The importance of the decision to raise the support budget from 14 billion dirhams to 28 billion dirhams is represented in the practical confirmation of the strength and solidity of the UAE economy, and the reaffirmation that the UAE always comes at the forefront of countries that take the reaction and develop effective solutions to confront global crises, especially since the state It will provide the appropriate support within a clear support plan that covers all ways of life, at a time when the governments of developed countries were unable to do so, and the best decisions taken by the governments of the great countries to support their citizens were to reduce the tax rate on fuel at small rates.
global leadership
In detail, Awatif Al Harmoudi, a banking expert, believes that the directive of His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the State, “may God protect him”, to restructure the “social support program for low-income people” into an integrated program amounting to 28 billion dirhams, is an unprecedented step and one of the The most important “soft power” initiatives that prove to the world the position of the UAE as a leading country at the global level, explaining that the timing of the decision came at a time when governments of developed countries announced their inability to support citizens and enable them to face the increase in the cost of living due to the increase in global inflation.
Al-Harmoudi explained that the social support program, after its restructuring, will help a large segment of society to maintain the same level of quality of life and face the consequences of global inflation, especially the fixed-income groups that have no room to increase income through investment or obtaining additional income.
She stressed that the focus on providing decent livelihoods for the people of the country with low incomes in all parts of the country, reflects the intelligence of the leadership in supporting this large segment of society, whether individuals or families, and shows that caring for the citizen comes at the top of the state’s priorities, and can make a transformation and increase The participation of this segment in the effective and positive development of the country in the long term, given the availability of appropriate conditions for this important segment, noting the importance of the decision to raise the support budget from 14 billion dirhams to 28 billion dirhams in the practical confirmation of the strength and solidity of the UAE economy, as the state increases support allocations in At a time when major countries are facing difficulties in managing the crisis budgets to support their citizens.
During her speech to Al-Ittihad, Al-Harmoudi expressed the importance of the decision to restructure the support program for low-income people, specifying clear percentages of support and not relying on the idea of “public benefit” in directing support. She noted that directing support through three types of inflation allowances, namely the food subsidy, the electricity and water subsidy, and the fuel premium, would guarantee the foundations of a decent life for the lower-income groups, especially since the state had previously announced huge housing support programs.
Effective solutions
Mohamed Karam, General Manager of Regional Business Development at Insincrator, confirmed that the decision of the President of the State, “may God protect him”, to restructure the “social support program for low-income people” proves to everyone that investing in human development and providing all components of the community welfare and quality of life system is a consistent policy. And its foundations were firmly established by the founding father, Sheikh Zayed, “may God have mercy on him”, noting that the decision proves once again that the UAE has always been at the forefront of countries that react and develop effective solutions to confront global crises.
Karam stated that the UAE’s decision to increase subsidy allocations will have a positive and broad global impact, especially as it comes at a time when major countries such as the United States and Britain have announced their inability to balance the income of the lower-income groups, which have been violently affected by the global situation and high energy prices. And food, noting that the “Social Support Program for Low-Income” will provide various means of support for national families and citizens with low incomes, which will bring about social balance and enhance family stability and quality of life, which the UAE is keen to establish and consolidate its components for its citizens.
Karam concluded, by emphasizing that the UAE’s taking clear and precisely defined measures to support the lowest-income groups at this time represents a “dream” for the citizens of many countries, as the best decisions taken by the governments of the great countries to support their citizens were to reduce the fuel tax rate at small rates. .
important step
In turn, Walid Al-Khatib, partner in Global Stocks and Bonds, said that this step is very important and will have very positive social, economic and financial repercussions, as all segments of Emirati society receive the appropriate support within a clear support plan that covers all ways of life, is unprecedented, especially in the Citizens in all countries of the world continued to suffer from inflation and the high prices of basic goods and services.
Al-Khatib expected that the plan to restructure the “social support program for low-income people” would have positive effects on the rotation of the economy and maintaining growth rates, in addition to the social effects on the cohesion of citizen families and their not being subjected to psychological pressures to maintain the elements of a decent life and the foundations of a comfortable life, noting that in In light of the restructuring of the “Social Support Program for Low-Income People”, the UAE will have supported nearly 70% of the needs of families and individuals, whether through financial support for housing, or allowances for inflation, which include food subsidies, electricity and water, and fuel premiums.
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