Dubai unveils fiscal package to bolster businesses

Dubai announced an AED 1 billion ($272.2 million) fiscal package on Monday to support businesses in the emirate, particularly sections of the economy most affected by the current conflict, including tourism and trade. The measures will be rolled out from April 1 over 3-6 months to strengthen Dubai's economic resilience, readiness, and agility, said Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, UAE Deputy Prime Minister and Minister of Defence.

The measures include a three-month deferment of government fee payments, hotel sales fees, and Tourism Dirham fees. The move is aimed at alleviating the financial burden on companies, enhancing liquidity of businesses and hotels, and supporting the tourism sector.