From Gulfnews.com: The UAE on Wednesday took the first step to reduce public debt and limit state-owned enterprises’ exposure to the debt market by enacting the Public Debt Law at the Federal National Council (FNC).

According to the public debt draft law passed by the FNC, the total value of the country’s public debt should not be more than 45 per cent of GDP or Dh300 billion whatever less of both at the time of issuing the public debt bonds, according to a WAM report………Full Article: Source