UAE Issues 2012 Supplementary Budget
The UAE has raised its projections for federal expenditure and revenue in 2012 in a new supplementary budget issued last week. Total expenditure is to rise by Dh4.3bn ($1.2bn) to Dh46.1bn ($12.6bn) from Dh41.8bn ($11.4bn) in the budget announced in October 2011, while total revenue will increase by Dh3.7bn ($1bn) to Dh45.1bn ($12.3bn) from Dh41.4bn ($11.3bn). The resulting deficit will now stand at Dh1bn ($272mn), compared to...
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