The proportion of Emirati households in Abu Dhabi reporting that they are taking on new debt has fallen to the lowest levels in seven years, according to a survey conducted by Abu Dhabi’s Department of Economic Development (DED). In June just 10% of the head of Emirati household said that they had taken loans during the previous three months. DED said that the figure was the lowest recorded since its survey began in 2009. Two year ago the DED said that figure stood at 28%. The DED attributed the drop to government initiatives - “creating awareness and rationalizing use of loans” -  helping nationals tackle high household debt. More than a third (37%) of the respondents said that they had taken new loans to buy a new car and another 30% said that they had used the loan to buy a family home. A month ago Obaid Al Tayer, the Minister of State and Financial Affairs, said that the government is working on a new personal insolvency law that would apply to individuals. (The National)