Dubai hopes 1.5 bln dirhams stimulus will help businesses facing economic challenges, COVID-19 impact
The government of Dubai on Mar 12 launched an economic stimulus package worth 1.5 billion dirhams ($408.44 million) it hopes will support companies and the business sector reduce the impact of the current challenging economic situation.
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the crown prince of Dubai and chair of the Executive Council of Dubai said the challenges faced by the global economy have been “exacerbated” by the worldwide outbreak of the COVID-19.
UAE has been proactive in taking preventive and precautionary measures to curb the spread of COVID-19, steps that have an impact across sectors of the economy.
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