Support for Dubai to be ‘Studied’ Properly: Mansouri

ABU DHABI - The UAE Minister of Economy Sultan bin Saeed Al Mansouri said that further federal support for Dubai should be “studied” in a proper manner.

“Each issue has to be studied in a proper manner, evaluated and based on that an answer would be provided at the federal or local level,” the minister told reporters on the sidelines of a two-day UAE-Azerbaijan Joint Economic Ministerial Committee meeting here on Monday.

“The way we see it, this is one economy not separated from each other,” the minister explained.

Al Mansouri ruled out that Dubai World’s debt problems will affect the growth forecast for the economy next year, as the size of the issue is not huge.

Asked about his economic outlook for the next year, the minister said: “Definitively it would be ‘positive’ in the country and globally.”

In separate statement, Al Mansouri clarified that specialised government departments are managing the debt concerns of Dubai, and said that the reports quoting him on the Emirate potentially getting more financial aid from the UAE Government or Abu Dhabi 
are misrepresented.

He said that some media exaggerated the UAE’s economic situation adding that if there is any criticism towards the UAE then it should be objective and in the right place. “We accept any kind of criticism but that must be based on facts and reality and not illusions and speculation,” the minister added. 
— haseebhaider@khaleejtimes.com