Complex Made Simple

UAE finance minister: no immediate need to issue bonds

UAE finance minister Sheikh Hamdan bin Rashid al-Maktoum has said the country has no immediate need to issue bonds to cover a small budget deficit this year, as it can cover the shortfall with its own resources, Al Ittihad has reported. "The government is not in a dire need for issuing bonds," Sheikh Hamdan was quoted as saying by the daily. "We don't need to finance anything and we should be able to fill the gap from our own resources," he said.