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Dubai plans to raise public spending this year
- United Arab Emirates: Wednesday, January 02 - 2013 at 03:21
The government of Dubai has announced plans to increase public spending in 2013 to support the economy, but still expects to narrow its budget deficit as the debt-laden emirate continues to focus on a prudent fiscal policy, Zawya Dow Jones has reported. Dubai will run a budget deficit of Dhs1.5bn ($409m) in 2013, down 18% from the fiscal year 2012 forecast. Public revenues in 2013 are seen at Dhs32.62bn, while public expenditure is estimated at Dhs34.12bn. The government said it has been able to cut the deficit to less than 0.5% of Dubai's gross domestic product.
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