Financial and Banking News
BUDGETS AND REVENUES
UAE Cabinet Approves 1988 Budget
The Cabinet of the United Arab Emirates (UAE) on 31 October approved the 1988budget, which envisages a deficit of Dh1,834.7mn ($500mn) for the current year.This deficit is considerably lower than that forecast for 1987, which wasoriginally estimated at Dh3.35bn and subsequently revised to Dh2.77bn. However,in 1986, the latest year for which actual revenue and expenditure figures have...