UAE’s Ministry of Finance Reveals Two-Stage Economic Strategy to Curb COVID-19 Crises

The United Arab Emirates’ (UAE) Ministry of Finance (MoF) has outlined its economic strategy to face the COVID-19 pandemic in two major stages. According to Younis Haji al-Khoury, Undersecretary of the MoF, the UAE’s national economy is robust and resilient and can overcome the crises, in an interview published by the MoF.

Khoury stated that the first stage of the economic strategy was short-term, and involved the gradual opening of the economy and business activities, while taking into account the imposed health restrictions. According to Khoury, the UAE government has provided economic stimulus support amounting to AED 282.5 billion (USD 76.8 billion) to the most affected sectors, including entrepreneurs and small and medium sized enterprises.

The second st...