Our debt profile showcases a resilient financial position, encompassing a diverse range of debt instruments. As of December 31, 2023, the total outstanding debt amounts to AED 116 billion, marking a 19.7% decrease from the previous period, with a Debt-to-GDP ratio of 22.7%.
This debt includes funds raised by the Government to finance:
The Government also has contingent liabilities under guarantees incurred by it as of September 2023
The government is in alignment with its commitment to support key strategic projects. In this respect, the government has provided shortfall guarantees and payment undertakings for a range of projects led by the Expo Dubai 2020, the Dubai Water and Electricity Authority (DEWA), and the Dubai Municipality. A substantial share of these contingent obligations, amounting to 97%, is allocated to supporting environmental projects under the Dubai Clean Energy Strategy 2050 (DCES 2050). The following presents key figures associated with these obligations:
The shortfall guarantees aggregate to an amount of AED 1.4 billion outstanding as of June 30, 2024.
Payment undertakings aggregate to an amount of AED 49.0 billion, with AED 29.7 billion outstanding as of June 30, 2024.
Payment undertakings aggregate an amount of AED 5.2billion, with AED 3.8 billion outstanding as of June 30, 2024.