🇦🇪 United Arab Emirates

Public Sector Debt · 2026

Total Debt

56.4%

of GDP

Global Rank

#102

of 192

S&P Rating

Credit rating

SOE Debt

+24.5%

1 categories

Sovereign Wealth

304%

of GDP in SWF assets

Where the Debt Sits

Central Government

Public Corps

Central Government: 31.9%Public Corps: 24.5%

Who Holds This Debt

Holder Breakdown

Domestic 55%

Foreign 45%

Domestic: 55%Foreign: 45%

Currency Denomination

Local 45%

Foreign 55%

Local currency: 45%Foreign currency: 55%

Full Debt Breakdown

Central Government31.9% of GDP

Central GovernmentIMF WEO — General Government Debt

31.9%

Public Corporations24.5% of GDP

Dubai GREs (ICD, Dubai World, Dubai Holding, DEWA)Capital Economics / AGBIGRE debt ~$80B. $54B maturing by end-2028.

15.1%

Abu Dhabi sovereign entities (Mubadala, ADNOC, ADQ)Bloomberg / AGBIConservative estimate. Mubadala gearing 7.8% on $327B AUM. ADNOC Covestro acquisition $18B.

9.4%

Total Corporate Debt57.5% of GDP

NF corporate debt (est.)WB WDI 2020

57.5%

Household Debt30.9% of GDP

Household debt (est.)WB WDI 2020

30.9%

Unfunded Pension Liabilities20.0% of GDP

GPSSA pension for nationals (est.)GPSSA; IMF UAE Art IV 2024Covers ~1.1M citizens only. Sovereign wealth far exceeds.

20.0%

All Layers Total164.8%

Credit Ratings

S&P

Moody's

Aa2

Fitch

AA-

Data Sources

IMF WEO — General Government Debtgeneral_government · Updated semi_annual

Dec 202631.9% GDP

Ranking Neighbors

#102🇦🇪United Arab Emirates

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