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FINANCIAL NEWS
Abu Dhabi to fund 2016 deficit at USD 10.1bn
25 Apr 2016
(MENAFN) Abu Dhabi predicts to post a huge budget deficit of USD 10.1bn this year due to low oil prices, and aims to cover the gap with global bond issues.
Furthermore, the government will issue bonds as early as this week with five, 10 and 30 years, on condition of anonymity.
The country recorded a budget deficit of USD 8.82bn last year, or 3.9 percent of its GDP, which was filed on the London Stock Exchange.
Moreover, the budgeted deficit is predicted to be financed by the issue of Notes under the Program, referring to the global bond issuance program.
More News
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BBK and CrediMax launch exclusive offers for customers in collaboration with The Ritz-Carlton, Bahrain
31 Aug 2025
BBK announces an exceptional 6-month grace period financing campaign for Personal and Car Finance customers
13 Aug 2025
BBK’s BD 5,000,000 Al Hayrat scheme awards BD 680,000 to 390 Al Hayrat winners in August and September
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
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