NO. 43


Financial and Banking News

Budgets & Revenues

UAE Finance and Industry Minister Urges Spending Cuts

Shaikh Hamdan ibn Rashid al-Maktum, the UAE Federal Minister for Financeand Industry, has urged his cabinet colleagues to restrain spendingapplications for the year 1993, so as to contain the budget deficit. In a letterto members of the federal cabinet, Shaikh Maktum said that federal revenues in1993 would be $4.33bn, the same as those projected for the present year....