UAE plots new stimulus measures to bolster economy

UAE plots new stimulus measures to bolster economy

The United Arab Emirates will deliver a three-stage “flexible package” of measures to bolster the economy, including steps to support the labour market and encourage investment, state-run WAM reported on Wednesday.

Economy Minister Abdullah bin Touq Al-Marri said the proposals would provide “studied” stimulus packages.

The UAE's central bank had provided more than Dhs256bn ($70bn) of stimulus by March to aid businesses amid the coronavirus pandemic. The minister didn't provide further details.

Business conditions in the UAE saw a second straight monthly improvement, according to Purchasing Managers' Index