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UAE foreign debt triples

A bulletin from the Dubai Chamber of Commerce and Industry (DCCI) has revealed that the UAE's foreign debt has nearly tripled in the last two years, due to major borrowing by banks and other corporations, reported Gulf News. The DCCI has predicted that the share of the UAE's external debt in the gross domestic product (GDP) will rise from 58.4% next year to 62.5% by 2010.