Dubai government reduces public debt by 29 billion dirhams to 25% of GDP

September 26

 

The Public Debt Management Office in Dubai said that the implementation of the public debt reduction plan is accomplished by paying obligations resulting from various financial instruments, including:

 

 

 

 

 

 

 

-3.3 billion dirhams Islamic bonds.

 

 

 

 

 

 

 

-5.2 billion dirhams in bank loans.

 

 

 

 

 

 

 

-20 billion dirhams as part of the financing provided by the Abu Dhabi government and the Central Bank of the United Arab Emirates.

 

 

 

 

He added: Within a year and a half of the establishment of the Public Debt Office of the Department of Finance, and under the directives of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, and the supervision of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai and Deputy Prime Minister. Minister of Finance, Dubai Government reduces public debt by approximately 29 billion dirhams, reaching 25% of the emirate’s GDP.