NO. 41


Financial and Banking News

Budgets & Revenues

UAE Cabinet Approves Draft Budget up 9.5% on Last Year

The UAE cabinet has approved a draft budget for 1991 of Dh16.4bn ($4.5bn), upfrom the Dh14.98bn agreed for 1990 (MEES, 17 December 1990). The budget mustreceive final approval from Shaikh Zayid ibn Sultan Al Nuhayyan, the Ruler ofthe UAE. The plan presented to the cabinet was for Dh19.7bn. No reason was givenwhy it was cut back. In recent years the UAE has...