Dubai’s economic backdrop has improved markedly in the past year or so and has provided government-related entities with room to breathe in the face of large debt repayments this year, including a $5.1bn payment tomorrow. But underlying vulnerabilities in the economy still persist and could still trigger debt concerns in the coming years. Elsewhere, while the prospects for Tunisia’s IMF deal have improved, but implementing the necessary reforms is becoming an ever harder task. And finally, rents in Saudi Arabia have increased sharply in recent years which may be a side effect of the government’s push to boost homeownership as part of Vision 2030 reforms.
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