5 July, 2018
Article length: 836 words
UAE launches stimulus packages and eases visa rules to boost activity
Despite Gulf producers’ success in forcing the price of crude up to around $70 a barrel, the strains of several years of lower oil prices are ever more apparent, even for the richest Gulf states. Adding to the pressure, several governments have had to shoulder the burden of huge military expenditure in Yemen and the cost of unprecedented diplomatic and other ‘soft power’ initiatives, as hydrocarbons revenues dropped away. These trends have driven a new burst of policy-making creativity in the UAE.