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$408m DEFICIT

Dubai sets budget spending at $9.28bn

Dubai, December 31, 2012

 

Dubai's 2013 budget envisages a spending of Dh34.1 billion ($9.28 billion), with a deficit of Dh1.5 billion ($408 million), the government said on Monday.
 
Public revenues have been set at Dh32.62 billion (Dh30.43bn in 2012), while public expenditures were assigned at Dh34.12 billion (Dh 32.25 in 2012). 
 
The budget, approved by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, sees a revenue increase of 7.8 per cent on 2012 figures, said a Wam report.
 
Abdul Rahman Saleh Al Saleh, director general of the Department of Finance (DoF), emphasised the government's preference to support the emirate's economy by increasing public spending for the fiscal year 2013 by 6 per cent over the 2012 budget, without sacrificing the strategic objectives of the government of reducing the deficit.
 
Government fees represents 62 per cent of the total government revenues, while tax revenues account for 23 of the total government income. 
 
Despite the completion of many of the larger projects, Dubai fiscal budget allocates 35 per cent for infrastructure, transportation and the economic sectors, as Dubai continues to grow and its government continues to support new projects.
 
As much as 26 per cent of the expenditure has been allocated to social development including healthcare, education, housing and community development. 



Tags: Dubai | Budget | Spending | Revenue |

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