VOL. XXXIX

No. 11

11-December-1995

UAE

UAE Raises Service Costs To Eliminate Budget Deficit

The undersecretary of the UAE Ministry of Finance and Industry, Mr. Nasir al-Nuwais, has said that the UAE is attempting to eliminate its 1995 federal budget deficit by increasing fees for services and other non-oil revenues, adding that the 1996 deficit should be equivalent to or lower than the 1995 deficit of Dh1.05bn ($285mn) (MEES, 6 February). "There are no fears that (the deficit) will...