​Gulf support and stimulus measures target SMEs

GULF COUNTRIES - Report 19 Mar 2020 by Rory Fyfe and Justin Alexander

Gulf governments and central banks, except for Kuwait, have rolled out their first wave of monetary and fiscal packages in response to the oil slump and coronavirus crisis, totalling at least $75bn, a figure that mixes liquidity support for banks, loan deferrals and fiscal measures such as tax cuts and reductions in utility bills​. A common theme in most of the packages was support to enable banks to allow borrowers to delay loan installment payments by up to six months, particularly for SMEs.

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