Middle East Economic Survey

VOL. LIV

No 42

17-Oct-2011

UAE

UAE 2012 Federal Budget Continues To Stress Social Spending

The UAE cabinet on 11 October approved the draft federal budget for 2012, with total expenditure of Dh41.8bn ($11.4bn), total revenue of Dh41.4bn ($11.3bn) and a resulting deficit of Dh400mn ($109bn). This is much lower than the Dh3bn ($817mn) deficit projected for 2011. The federal budget will need to be reviewed by the Federal National Council (parliament) before it is...