Middle East Economic Survey
UAE 2011 Federal Budget Projected To Fall
The UAE cabinet on 7 November approved a three-year federal budget of Dh122bn ($33.2bn) for 2011-13, instead of the usual one-year budget. From this total the cabinet has set a balanced budget of Dh41bn ($11.2bn) for 2011, 6% down on the 2010 budget of Dh43.6bn ($11.9bn). The purpose of setting expenditure allocations for a medium term period of three years is to allow the government to...