Dubai faces 5.5% recession this year as $10 billion debt repayments loom, BofA says

[Deeq A.]

DUBAI (Reuters) - Dubai could see a recession of around 5.5% in 2020 as it faces about $10 billion (8.1 billion pounds) in debt maturities this year while revenues are expected to drop in line with the pattern of the 2009 crisis, Bank of America (BAC.N) said in a research note.

Source: Hiiraan Online