| Kippreport.com

Dubai could get more financial help in 2010

December 21, 2009 5:55 by kippreport

Government-owned entities in Dubai are likely to receive more financial aid from either the federal government or its oil-rich neighbor, Abu Dhabi, reports Arabian Business, citing the nation’s Minister of Economy.

“This issue has to be studied in a proper manner, evaluated and based on that, an answer will be provided on the federal level or the local level because the way we see this is one economy not separated from each other,” Sultan bin Saeed al-Mansouri said on the sidelines of a conference.

However, he stressed that Dubai’s financial issues does not reflect the state of the nation’s economy as a whole: “If you look at it, it doesn’t really have a huge reflection on the whole economy of the UAE.”

Tags: Abu Dhabi, debt, Dubai, government, UAE