UAE announces additional 16 bln dirhams COVID-19 stimulus
The United Arab Emirates on Sunday (Mar 22) announced a 16 billion dirhams ($4.36 billion) stimulus package to support its economy mitigate the impacts of the COVID-19.
State news agency WAM said the latest package complements earlier initiatives by the governments of Abu Dhabi and Dubai as well as that of the Central Bank of the UAE, taking the total value of stimulus to 126.5 billion dirhams ($34.45 billion).
WAM said the measures include a renewable six-month suspension of work permit fees and reduction of labour and other charges to cut the cost of doing business, support small businesses and accelerate major infrastructure projects.
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