Quote:
Originally Posted by bcb
What I don't understand is how, if Dubai only has limited oil revenue, people can pay no tax and receive free medical care and complimentary phD-level education.
It's not like the government is selling military technology to Iran, Right?  |
Well it is that they didn't have any oil but just not nearly as much as others. They took that money that they got and re-invested it into the country.
There are a few factors that contribute:
1. There are very few Emerati's and it is tough to prove that you are one to qualify for the freebies. I think the number is something like 250,000 people that get the perks.
2. Dubai still makes a ton of money from other revenues than oil
3. As the article states "Dubai owes 107% of its GDP." It has a lot of money from creditors to spend on its people