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FINANCIAL NEWS
Dubai’s USD 12.5mn budget to improve growth
28 Dec 2015
(MENAFN) Dubai approved a zero-deficit budget on USD 12.5mn for next year with a main amount of spending on social development and infrastructure.
The budget was accepted by the country’s vice president with 12 percent more state spending compared to this year’s USD 11.2mn.
Moreover, thirty-six percent of the government spending would go towards wages and salaries, as the government intends to add 3,000 new jobs for its citizens in 2016.
“The break-even point between government revenues and expenditures has come as a result of strict financial policies of the Dubai Supreme Fiscal Committee,” said director-general.
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