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FINANCIAL NEWS
UAE approves 2012’s budget draft of USD11.4b
12 Oct 2011
(MENAFN) UAE’s state news agency WAM said that the country’s government approved next year’s budget draft of USD11.4 billion, reported Arab News.
The agency added that the main budget priorities would be health, education and social services, whereas around USD435 million would be allocated for infrastructure projects.
It also said that for the current year, the government also approved additional federal expenditures worth USD189.9 million which included USD39 million allocated for the Health Ministry, moreover, 2011’s budget spending was set at USD11 billion and revenue at USD10 billion.
It is worth noting that 2012’s revenue will be expected to reach USD11 billion, where the budget deficit would reach 0.04 percent of the country’s economic output.
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