New economic tool to help Abu Dhabi's economy

ADCEDA new and more complex economic modelling system has been designed and developed that is going to help the government in evaluating the past decisions. The model has been developed by the Abu Dhabi Council for Economic Development (ADCED).

Fahad Saeed al Raqbani, the ADCED director general said that the need for such an economic model has long been felt by the policy makers. It is necessary since there is a lack of accurate information and projections that are a need of the hour.

ADCED along with EcoMod has developed the new model after consulting many companies around the globe. And the name given to the model is ADMOD.

Experts also agree that it will give the policymakers the kind of leverage that has been missing till now. They also agree that in today's time the need is for quantitative as well as qualitative tools. The data for the model is going to be collected by Statistics Centre Abu Dhabi (SCAD).

If nothing else it would help in bridging the data gap that has been existent for a very long time now. Now, one can be rest assured that data will be present and will be consistent too.