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Latest News

Dubai ruler clears 2011 budget with $1 bln gap

The United Arab Emirates member's spending is projected at 33.684 billion dirhams in 2011.

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January 12, 2011 2:46 by



Dubai’s ruler approved a 2011 government budget with a deficit of 3.778 billion dirhams ($1.03 billion), the government said on Wednesday, a smaller shortfall than planned for 2010.

The United Arab Emirates member’s spending is projected at 33.684 billion dirhams in 2011, down from 35.401 billion planned for 2010, the statement said. Revenue of the debt-laden emirate was estimated at 29.906 billion dirhams, slightly above 29.411 billion projected for the previous year.

The budget shortfall had been set at 5.99 billion dirhams for 2010.

(Reporting by Martin Dokoupil; editing by Cynthia Johnston)



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