https://www.reuters.com/article/us-emirates-economy-s-p-idUSKBN2360AU

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FILE PHOTO: A general view of Business Bay area, after a curfew was imposed to prevent the spread of the coronavirus disease (COVID-19), in Dubai, United Arab Emirates, March 28, 2020. REUTERS/Satish Kumar/File Photo. DUBAI (Reuters) - Abu Dhabi’s real gross domestic product (GDP) is expected to contract by 7.5% this year because of lower oil production and the impact of the new coronavirus outbreak, S&P Global Ratings said. The fiscal deficit of the oil-rich emirate will rise to about 12% of GDP this year from 0.3% in 2019, the ratings agency estimated. It added it expects smaller emirates in the United Arab Emirates (UAE) to receive “extraordinary financial support” from the UAE, wit... Full story

30 May

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