Middle East Economic Survey
Dubai Maintains Fiscal Budget Stimulus Despite Debt Woes
As it grapples with its debt pile, Dubai, the UAEs second largest emirate, will continue to pursue an expansionary fiscal policy in 2010 and focus on development and completion of infrastructure projects. While public sector spending is to fall from 2009 levels, it is still markedly up from 2008. The budget law for 2010, issued on 7 January in a decree by Dubais ruler Shaikh Muhammad bin...