UAE, Saudi central banks roll out $40 billion stimulus for virus-hit economies - Reuters:
The central banks of the United Arab Emirates (UAE) and Saudi Arabia, the two largest Arab economies, on Saturday announced stimulus plans worth a combined $40 billion to ease the impact of the coronavirus outbreak in their respective countries.
The UAE regulator plans to support banks and businesses in the country, where the outbreak is affecting major economic sectors such as tourism and transport, with a 100 billion dirham ($27 billion) economic plan, it said on Saturday.
In a separate statement, the Saudi Arabian Monetary Authority said it had prepared a 50 billion riyal ($13.32 billion) package to help small and medium-sized enterprises (SMEs) cope with the economic impacts of coronavirus.
The disease has so far infected 85 people in the UAE and 105 in Saudi Arabia.
No comments:
Post a Comment