VOL. XLIV

No. 13

26-March-2001

UAE

UAE Approves Year 2001 Budget With $6.3Bn Worth Of Spending

The UAE announced on 19 March that the cabinet had approved a federal draft budget for the year 2001 with total revenues of Dh20.43bn ($5.56bn), total expenditures set at Dh22.66bn ($6.17bn) and a resultant deficit of Dh2.23bn ($607mn). The budget has yet to receive final approval from the countrys President, Shaikh Zayid bin Sultan Al Nuhayyan, but this is believed to be largely a formality. The...