UAE public debt put at over $236bn

Around $104bn owed by Abu Dhabi and $112bn by Dubai

The UAE’s gross public debt is estimated at around $236.1 billion, according to the IMF.

The Federal government debt was estimated at about $19.1 billion, accounting for nearly 6.3 per cent of the country’s 2010 GDP.

Nearly $33.1 billion of the debt matures in 2011 while around $25.8 billion matures in 2012 and the rest after that year, the Washington-based International Monetary Fund said in a report.

A breakdown showed Abu Dhabi’s debt stood at $104 billion, including around $11.6 billion by the government and $92.4 billion by government related entities (GREs). The total debt accounts for nearly 54.2 per cent of GDP.

The debt maturing in 2011 is estimated at $17.1 billion including $16.6 billion by GREs while nearly $10.6 billion, including $9.3 billion by GREs, matures in 2012.

Dubai’s total debt was put at $112.9 billion, including around $36 billion by the government and $76.9 billion by GREs.

The debt maturing in 2011 stood at $16 billion including $10.4 billion by GREs while nearly $15.2 billion, including $13.6 billion owed by GREs, matures in 2012.

The IMF estimated debt by the remaining emirates at $5.2 billion including $2.8 billion by the government and $2.4 billion by GREs.

 

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