Coronavirus: Dubai Crown Prince announces over $400 million economic stimulus package

Published: Updated:

Dubai has adopted an economic stimulus package worth 1.5 billion dirhams ($408 million) to help counter the impact of the coronavirus, announced Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum on Saturday.

Visit our dedicated coronavirus site here for all the latest updates.

The package is the third package passed in response to the COVID-19 pandemic and brings the total spend up to 6.3 billion dirhams, he said on Twitter.

Sheikh Hamdan listed some of the beneficiaries from the stimulus including schools.

"We adopted the initiative to cancel fines and exempt private schools from fees for renewing commercial and educational licenses until the end of next December," he tweeted on Saturday.

"We trust in the flexibility and durability of our economy ... We stand together with the private sector to move beyond this stage very quickly ... We are keen to return business to normal as soon as possible and we confirm our commitment to support all economic sectors," he added.

Read more:

Coronavirus: UAE adjusts expiry extensions, fine collection rules for visas, ID cards

Dubai’s Emirates airline to cut up to 9,000 jobs amid coronavirus: Report

Coronavirus in UAE: Abu Dhabi implements COVID-19 safety measures as flights resume

Top Content Trending