NO. 19


Financial and Banking News

Public Finance

UAE Keeps Budget Tight, Despite Big Increase In Non-Oil Income

The UAE's Council of Ministers has approved a budget of Dh17,949mn ($4,887mn)for 1995, an increase of 1.9% over last year. Revenues are projected to rise by4.3% to Dh16,903mn ($4,602mn). The resulting deficit of Dh1,046mn ($285mn) willbe about 24% less than that projected for last year. The budget now has to beapproved by the UAE Federal Council, which is...