2 years, 2 months ago
What are the situations in Dubai now for examples employment, real estate, foreigners etc..?
Saw this 2009 photo essay “Dubai’s improbable tale” from New York Times quite some time back:
http://lens.blogs.nytimes.com/2009/11/30/showcase-85/
It seems quite grim then.
What are the situations in Dubai now ?
Thanks.
http://lens.blogs.nytimes.com/2009/11/30/showcase-85/
It seems quite grim then.
What are the situations in Dubai now ?
Thanks.
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This the latest that I've searched about Dubai and the current status of its economy:
1. The government wants to reduce spending in 2010 but still has a forecast a second budget deficit due to ongoing infrastructure investment and debt-laden emirate’s weaker economy.
2. The budget which was approved by Dubai’s ruler Sheikh Mohammed bin Rashid al Maktoum forecasts a budget deficit of Dh6 billion on revenues of Dh29.4bn and total spending of Dh 35.4 billion.
3. There is a 5% decrease in spending compared to last year.
4. The 2010 budge is much more transparent compared to last year.
5. Thirty percent of total spending is for investments.
6. The government will focus on remaining infrastructure that will boost economic output.
7. In the last 10 years Dubai borrowed a lot from banks and capital market to turn itself into a leading commercial and tourism hub but was greatly affected by the global recession that followed Lehman Brothers' collapse in 2008.
8. This was followed by property price crash the it was further weighed down by an estimated $100 bn of government and government-linked debt. It shocked the world when it announced to seek restructur of $26bn of its debts.
9. Abu Dahbi granted Dubai a $10 bn loan in December 14 with a $4bn bond helping Dubai with a total of $25bn aid package.
1. The government wants to reduce spending in 2010 but still has a forecast a second budget deficit due to ongoing infrastructure investment and debt-laden emirate’s weaker economy.
2. The budget which was approved by Dubai’s ruler Sheikh Mohammed bin Rashid al Maktoum forecasts a budget deficit of Dh6 billion on revenues of Dh29.4bn and total spending of Dh 35.4 billion.
3. There is a 5% decrease in spending compared to last year.
4. The 2010 budge is much more transparent compared to last year.
5. Thirty percent of total spending is for investments.
6. The government will focus on remaining infrastructure that will boost economic output.
7. In the last 10 years Dubai borrowed a lot from banks and capital market to turn itself into a leading commercial and tourism hub but was greatly affected by the global recession that followed Lehman Brothers' collapse in 2008.
8. This was followed by property price crash the it was further weighed down by an estimated $100 bn of government and government-linked debt. It shocked the world when it announced to seek restructur of $26bn of its debts.
9. Abu Dahbi granted Dubai a $10 bn loan in December 14 with a $4bn bond helping Dubai with a total of $25bn aid package.
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
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