Abu Dhabi economy to contract by about 7.5% this year – S&P

by Aurelia Butler 30 May 2020, 07:45 99 Views

The fiscal deficit of the oil-rich emirate will rise to about 12% of GDP this year from 0.3% in 2019, the ratings agency estimated.

It added it expects smaller emirates in the United Arab Emirates (UAE) to receive “extraordinary financial support” from the UAE, with the backing of Abu Dhabi, in the event of financial distress.

Source: Economy - investing.com

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Abu Dhabi economy to contract by about 7.5% this year – S&P

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