No 13


UAE Cabinet Approves Draft Budget Of$6.4Bn

The UAE cabinetapproved on 25 March a federal draft budget for the fiscal year 2002 (whichruns from 1 January to 31 December) with a projected spending of Dh23.16bn ($6.30bn),projected revenues of Dh20.99bn ($5.71bn) and a resultant deficit of Dh2.17bn($0.59bn see Table 1 below). The budget has yet to receive final approvalfrom the countrys President, Shaikh Zayid bin Sultan Al Nuhayyan butthis is usually considered a...