NO. 22


Financial and Banking News

Budgets & Revenues

UAE Oil Revenue Falls 3.3% In 1993

UAE oil revenues in 1993 fell 3.3% to Dh51.350bn ($13.99bn) from Dh53.116bn($14.47bn) in 1992 as a result of the fall in oil prices in the second half ofthe year, according to preliminary estimates published by the UAE Ministry ofPlanning. Oil revenues accounted for 39% of gross domestic product (GDP), whichstood at Dh131.6bn ($35.86bn), up 1.1% from Dh130.16bn ($35.47bn) in...