Omantribune
Oman Tribune
Omantribune
Omantribune Search News
Web Oman
    Google Search Button
      Tribune
- Oman
- Soccer World Cup
- Other Top Stories
- Middle East
- Business
- Sports
- India
- Pakistan
- Asia
- Europe
- Americas
- Columnists
- Editorial
- Oman Mirror
- Special Features
- Cinema
- PDF Pages
- Weather
- Travel
- Currency Rate
- Hospitals
- Pharmacies
- Services
- Flight Timings
- Museum Timings
Omantribune Home Omantribune About Us Omantribune Advertising Information Omantribune Archives Omantribune Subscribe-Form Omantribune Jobs Omantribune Contact Us
Friday, October 24, 2014  

Dubai unveils budget with $9.3b spending
DUBAI Dubai’s government unveiled its budget for 2013 on Monday, setting expenditure at 34.12 billion dirhams ($9.3 billion) and a deficit at 0.5 per cent of gross domestic product.

Expenditure was forecast only slightly up from 33.68 billion dirhams in this year’s budget, while revenues were expected to amount to 32.62 billion dirhams, up from 29.91 billion dirhams in 2012, it said in a statement.

The budget forecast the deficit to drop to 1.48 billion dirhams, compared with 3.778 billion dirhams predicted for this year.

The Dubai government said the focus of the budget was “on a prudent fiscal policy that provides the stimuli necessary to economic growth”.

The debt-laden Gulf emirate allocated six per cent of spending to debt servicing, while 26 per cent would be channelled into health, education, housing and social developments.

Sixteen per cent of expenditure has been set aside for the completion of infrastructure and development projects.

Abdul Rahman Al Saleh, the finance department director general, said the budget emphasised a preference to expand expenditure to support the economy but “without sacrificing the strategic objectives... of reducing the deficit”. Government fees would represent 62 per cent of revenues, while customs and taxes on foreign banks would account for 23 per cent.

Agencies
NEWS UPDATES
Oman
Meeting recommends GCC centre for water treatment
Documentary on Oman screened in Paris
Oxy Oman signs deal to back SMEs
70 projects vie for HM e-governance award
Other Top Stories
US strikes hit militia in Kobani, Mosul dam
Canada House locked down, intruder shot dead
Sultanate, Abu Dhabi ink deal for first wind energy plant
Rowhani opposes bill to empower Islamic vigilantes
2 die after Ebola test sparks riot in Sierra Leone
Middle East
Four Blackwater guards guilty of ’07 Iraq killings
Unrest-hit Tunisian city sees no peace in sight as clock ticks on poll
Settlers grab land through shady deals
S. Arabia sentences 13 over plot to attack US soldiers
Iran lawyer up in arms over practice ban
Business
MSM surges 120 points on global cues, better earnings
Middle East equity issuance rises 43%
Middle East equity issuance rises 43%
Oil could fall to $70 range in coming months: Moody’s
India may allow foreign firms in commercial coal mining
Wipro posts 8% rise in Q2 profit
Tainted firms feel heat of India ‘clean-up’ drive
DLF seeks relief from market ban
Beijing fears rate cut may fuel debt, property bubble
Japan hit by growing trade deficit
Total appoints new CEO after death of De Margerie
Apec to follow ‘flexible’ policies
Sports
Champions League throws up goal feast
Modest Guardiola says Bayern can do better
Ton-up Younis stands tall for Pakistan
Johnson not in Akram’s league yet, says Waqar
Utd job too big for Moyes: Alex
Scotland lifts Ghala Valley Open crown
Almouj gear up for NBO Golf Classic
Oman Sail triumph in Sailing Champions League
Oman Sail triumph in Sailing Champions League
AIBA suspends boxer Sarita and coaches

Sports


International

© 2013 Oman Tribune. All rights reserved. Best viewed in 800 X 600 resolution