Middle East Economic Survey

VOL. LII

No 44

2-Nov-2009

UAE

Dubai To Be More Cautious In GRE Support, S&P Says

Mounting debt will force the Dubai government to be more wary in its provision of extraordinary support to government-related entities (GREs) in the next few years, Standard & Poors Ratings Services (S&P) reports. The ratings agency estimates a total debt of $80-90bn owed by the emirates government and its related GREs, the majority of which will be due in 2011 and 2012....