Financial and Banking News
BUDGETS AND REVENUES
UAE Unveils Delayed 1987 Federal Budget
The UAE cabinet on 21 December approved the overdue federal budget for fiscal1987 with a deficit of Dh3,355mn ($914mn), up 182.7% from the budgeted deficitof Dhl,187mn ($323mn) for 1986. Total revenues for 1987 are estimated atDh11,066mn ($3,015mn), down 13.8% from 1986, while total expenditures are set atDh14,421mn ($3,929mn), marginally higher than the 1986 figure, as shown in...