Following similar moves in other Gulf countries, the UAE announced an increase of up to 100% in the pay of some public sector workers, as well as the introduction of a $2.7 billion fund to help low-income households with loan repayments. But while the announcement sounds impressive, and even if government spending on other areas is not slashed to pay for these commitments, the fiscal package is unlikely to increase GDP growth by more than half a percentage point next year.
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