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UAE to increase spending in 2010
- United Arab Emirates: Tuesday, October 27 - 2009 at 11:35
The UAE plans to increase government spending by 3.4% next year under its 2010 draft budget. The country will spend dhs43.6 billion ($11.9bn), or 3.4% more than budgeted for this year, the finance ministry said. 'The UAE government has presented a zero-deficit budget, balanced between incomes and expenditure for the sixth consecutive year,' the ministry said. "The 2010 budget shows a growth despite the financial crisis and indicates the growth in ministries' revenues estimated at dhs20.8 billion in 2010 compared to dhs7 billion in 1999." Finance Ministry Unders-ecretary Younis al-Khouri said the emirate of Abu Dhabi would contribute the lion's share of revenues at dhs17.7 billion, while Dubai's contribution was set at dhs1.2 billion.
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StaffTuesday, October 27 - 2009 at 11:35 UAE local time (GMT+4)
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