VOL. XXXIX

No. 30

22-April-1996

UAE

UAE Projects Lower Budget Deficit In 1995

The UAE Government on 8 April approved its 1996 federal budget, with expenditure set at Dh18,254mn ($4,970mn), an increase of 1.7% from last year. Revenue is also projected to rise by 3.0% to Dh17,396mn ($4,736mn), leaving a small deficit of Dh858mn ($234mn), or 18% less than the budgeted deficit for 1995. Commenting on the budget, the UAE Minister for Finance and Industry, Mr. Ahmad al-Tayir, said that the...