The Emirate of Dubai has announced a new stimulus package worth 315 million dirhams ($86 million) to help the economy cope with the effects of the coronavirus pandemic.
The package, its fifth, takes the total economic stimulus from the government of Dubai, part of the United Arab Emirates, to 7.1 billion dirhams since March last year, Dubai Crown Prince Sheikh Hamdan bin Mohammed said on Twitter.
Under the directives of @HHShkMohd, we have approved Dubai's 5th economic stimulus package worth AED 315 million, bringing the total value of all packages to AED 7.1 billion. We continue to implement the required support structures for all sectors to overcome this global crisis. pic.twitter.com/qgk7kOPg2H— Hamdan bin Mohammed (@HamdanMohammed) January 6, 2021
In October, Dubai announced an economic stimulus package worth $136 mln (AED 500 million) to support various business sectors, according to an announcement by the emirate’s crown prince.