حكومة دبي تخفّض الدين العام إلى 25% من الناتج المحلي الإجمالي
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00:00 The government of Dubai is reducing the public debt to 25% of the total local income.
00:09 This is a better number than many international institutions expect.
00:14 Let's take a look at the government's budget to reduce the public debt by 25%.
00:22 We know that the government of Dubai has many resources,
00:26 most notably real estate and tourism.
00:30 We have seen a lot of activity in the past period in the real estate sector,
00:35 in the sale of real estate, the growth of the real estate sector is clearly visible
00:39 in the sale of real estate, especially the sale of luxury and luxury real estate.
00:46 If we look at the financial commitments during the year and a half,
00:50 Dubai has paid a loss of 3.3 billion dirhams,
00:54 loans of 5.2 billion dirhams,
00:57 and other funds that were obtained from the government of Abu Dhabi and the UAE
01:01 worth 20 billion dirhams.
01:03 This means that the total amount that has been reduced to 28.5 billion dirhams,
01:09 and thus the public debt has been reduced to 25% of the total local income.
01:14 These payments were either on time or even the payment of commitments was before its due date.
01:23 In addition to what we have seen in the growth of the real estate sector,
01:26 we have also seen an increase in the number of tourists in Dubai
01:33 by a large percentage during the year compared to 2022.
01:38 The total local income of Dubai in the first quarter of this year
01:42 reached 111 billion dirhams, with a 2.8% annual growth.
01:48 This is compared to a result of 415 billion dirhams in 2022.
01:54 We remind you that this growth in local income comes despite the rising international interest rates,
02:02 and of course in the UAE in a large way,
02:05 which is what drives the growth opportunities of companies,
02:08 and their loans and expansion,
02:10 and this is also a positive thing for Dubai
02:13 at the level of achieving this number of local income and increasing the economy,
02:19 especially in light of expectations indicating that the UAE economy will grow by 6% in 2023,
02:26 and this is by the UAE Ministry of Economy.
02:30 This is in relation to the UAE,
02:32 and specifically the National Bank of the UAE expected that the Dubai economy would grow by about 4% in 2023.
02:41 The S&P said that the local income was expected to be 51% in 2023,
02:49 and we reached a level of 25%,
02:51 so we talked about the number being much higher than expected,
02:55 and in 2020, the total local income was 87%.