Real estate related economic and financial news covering the MENA region.
UAE under no pressure to issue bonds, despite budget deficit
Jun 20, 2012
The UAE finance minister, Obaid Humaid Al-Tayer has said the government will further discuss its plan to introduce a law allowing public debt issues at the federal level, and it feels no pressure to issue bonds despite a budget deficit, Reuters has reported. ôThe law is still under discussion within the government. We are not under pressure to issue any bonds,ö Al-Tayer told the news service. ôWe are in no need to finance anything. We will be able to bridge the (budget) gap with our own resources.ö