No. 19



IMF Urges UAE To Impose Taxes And Cut Subsidies

According to a report in the Dubai weekly Emirates Today, the International Monetary Fund (IMF) has suggested that the United Arab Emirates (UAE) needs to embark on a "strong fiscal reform program" to reduce the budget deficit, which could rise to as high as 10% of the Gross Domestic Product (GDP) annually until the year 2000. The weekly quoting an IMF report says that the deficit in the UAE's...