The Government of Dubai has set out the hard figures which show that the emirate has overcome the global economic crisis and is firmly in control of its financial situation.
The restructuring of the debt of Dubai World is complete and the conglomerate is now on a "sound financial footing" said Shaikh Ahmad Bin Saeed Al Maktoum, Chairman of the Supreme Fiscal Committee and Chairman and Chief Executive of Emirates Airline and Group.
Dubai's sovereign debt is $30 billion, according to Mohammad Al Shaibani, Director-General of the Ruler's Court. This is a small amount relative to earlier speculation and can easily be managed by the emirate. The operating debts of government entities should not be too much of a concern as most are known to have strong operations which generate revenue, such as the Dubai Electricity and Water Authority.
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