The economic system of the area’s largest monetary heart grew at an annual fee of two.8% within the first quarter of 2023
Dubai’s public debt was decreased by Dh29 billion to 25 p.c of GDP inside 18 months of the institution of the Dubai Finance Ministry’s Public Debt Administration Workplace. The Dubai Media Workplace introduced this on microblogging platform X on Tuesday.
The Public Debt Administration Workplace was established below the management of Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Govt Council, and below the supervision of Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai. , and Deputy Prime Minister and Minister of Finance of the UAE.
The economic system of the area’s largest monetary heart grew 2.8 p.c year-on-year to Dh111.3 billion within the first quarter of 2023, led by sturdy development throughout all key sectors together with transport and warehousing, finance and insurance coverage. .
As a part of the beforehand launched Dubai Financial Agenda ‘D33’, the emirate goals to place itself among the many prime three world financial cities and double the scale of its economic system to Dh32 trillion over the subsequent decade.