“Expo 2020 Dubai” postponement exacerbates dilapidated economy of UAE

DUBAI, May 4 (YPA) – The international Expo 2020, scheduled to be held in Dubai at the end of next October with the participation of 192 countries and many of international organizations and institutions, was postponed, increasing the deterioration of the UAE economy.

More than two thirds of the member states of the International Bureau of Exhibitions voted to approve the decision to postpone the Expo 2020 for a year, due to the pandemic of the “COVID-19” that affects the world.

The heavily indebted emirate of Dubai spent billions of dollars on infrastructure to prepare for the global fair, as officials were counting on it to spur growth, especially in the declining real estate sector.

YPA