VOL. XLI

No. 08

23-February-1998

UAE

UAE Cabinet Approves 1998 Budget With Higher Deficit

On 16 February the UAE Cabinet approved its federal budget for 1998 with expenditureforecast at Dh21.4bn ($5.8bn) - 8% higher than the 1997 budget. Revenue has been forecastat Dh19.6bn ($5.3bn), 4% higher than last year, resulting in a higher deficit in 1998 ofDh1.8bn ($490mn), almost double that in 1997. The UAE's OPEC quota was raised at the lastOPEC ministerial conference in Jakarta by 205,000 b/d from...