12 Jun 2011
(MENAFN) Dubai’s department of finance said that this month, the total outstanding external term borrowings of the emirate’s government reached USD31.4 billion, reported Gulf News.
The department added that since confidence in Dubai’s economic fundamentals was returning back, the Government of Dubai would test credit market sentiment and issue a dollar denominated, benchmark sized bond, adding that the proceeds of the bond would be used for general budgetary purposes.
It also said that last year, Dubai’s nominal gross domestic product (GDP) reached USD81.8 billion and its total direct debt nominal GDP ratio about 38 percent.
It is worth noting that Dubai Government provided exceptional guarantees to the tune of USD2 billion towards the financial obligations of the Dubai Electricity and Water Authority and a USD1.7 billion guarantee exposure to the DURL Consortium with respect to Dubai Metro.
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more