Middle East Economic Survey
UAE Unveils $12Bn Federal Budget For 2010
The UAE Government approved a draft budget for 2010 of Dh43.6bn ($11.87bn) on 26 October, showing an increase in federal spending of 3.4% over the previous year. This is the sixth consecutive year that the government presents a balanced budget.
Despite the negative impact of the global financial crisis and lower oil prices, the 2010 budget indicates a growth in ministries' revenues, estimated at...