
UAE Doubles Stimulus To Counter Coronavirus Impact
The Central Bank of the United Arab Emirates said Sunday it has doubled to $70 billion a stimulus package to support the Gulf state’s economy amid the coronavirus pandemic.
“The aggregate value of all capital and liquidity measures adopted by the CBUAE since 14 March 2020 has reached 256 billion dirhams ($70 billion),” the central bank said in a statement.
Last month, oil-rich UAE announced stimulus worth $35 billion that included aid to the banking system, facilities for loans and injecting funds into the bourses.
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