VOL. XXXVIII

NO. 2

10-OCTOBER-1994

Financial and Banking News

Budgets and Revenues

Al-Tayir Confirms UAE Standstill Budget For 1995

The UAE federal budget for 1995 will not contain any increase inexpenditure but some new service charges may still have to be introduced tocover the expected deficit, according to Mr. Ahmad Humaid al-Tayir, the UAE'sMinister of State for Finance and Industry. Speaking to MEES in Madrid duringthe World Bank/IMF joint annual meetings, Mr. Tayir said that electricity...