UAE business execs question crisis handling

The UAE economy is in decline and the government has not done enough to stem the economic crisis despite pumping billions of dollars into the banking system and struggling companies, according to new survey, the first to poll the government’s handling of the crisis.

Fifty-seven percent of respondents said business conditions in the UAE are in decline, while 51 percent said they are not satisfied with the government’s response to the crisis, the survey by consultancy Oliver Wyman and U.S.-based pollster Zogby International found.

Confidence in the government has been hit as a result, with 45 percent of respondents stating confidence has been slightly damaged and a further 26 percent saying confidence has been undermined.