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Dubai boosts stimulus to Dh7.1B

Dubai boosts stimulus to Dh7.1B
issacjohn@khaleejtimes.com
Filed on January 6, 2021 | Last updated on January 7, 2021 at 05.57 pm
Among the initiatives included in the stimulus package include exempting commercial establishments and hotels that did not benefit from the reduction in previous packages launched in 2020 from one-time market fees in 2021.
Government efforts aim to reduce impact of global crisis, accelerate pace of recovery of economic sectors and provide necessary means to ensure business continuity
Dubai on Wednesday rolled out the latest Dh315 million tranche of its economic stimulus package, boosting the total value of government incentives to help businesses brave the pandemic challenges to Dh7.1 billion. ....

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Dubai government increases economic stimulus to Dh7.1bn

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Dubai launched an additional Dh315 million ($85.8m) stimulus package to support the economy, pushing the total value of measures introduced by the emirate so far to Dh7.1 billion.
The Dubai government continues to assess the current global economic situation and the various developments amid these exceptional circumstances in an effort to develop practical strategies that will enable us to efficiently mitigate the repercussions of the global pandemic on the economy,” Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, said in a statement on his website.
“Despite the challenges imposed by the pandemic worldwide, our economy is steadily recovering.
Dubai has the capability and resources to achieve economic excellence and accelerate the recovery of its various business sectors, Sheikh Hamdan said. ....

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