Dubai faces 5.5% recession this year as $10 bln debt repayments loom, BofA says
May 31, 2020 at 09:16 AM EDT
Dubai could see a recession of around 5.5% in 2020 as it faces about $10 billion in debt maturities this year while revenues are expected to drop in line with the pattern of the 2009 crisis, Bank of America said in a research note.