UAE Budget Sees 9% Increase In Both Spending And Revenue
The UAE Council of Ministers has approved the federal budget for1997, which sees spending increase by 9% to Dh19,863mn ($5,408mn) and revenues up by asimilar margin to Dh18,876mn ($5,139mn). The resulting deficit is set to remain roughlyflat at a manageable Dh987mn ($269mn), as against Dh858mn in the previous year. Thebudgeted deficit of under Dh1bn will easily be financed by the UAE banks,...
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