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
Thursday, April 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
Agriculture census 2012-13 shows all-round growth
Marginal rise in expatriate labour force in March ’14
Military judiciary chairman and members take oath
ODC sponsors marine awards meet in London
Calls for review of food safety laws at meeting
PDO signs 5.5m-rial social help MoUs
Muscat to get 2.5m-rial drug rehab centre
Other Top Stories
Russia threatens attack if interests in Ukraine hurt
Damascus accuses UN of obstructing peace talks
US horrified at S. Sudan violence
Iran urges UN to act on envoy issue
Rio ramps up security after clashes erupt
India
117 constituencies go to polls today; 180m to vote in 11 states
Lawyer who tried to influence judge lands in trouble
Panel to frame rules on ads featuring politicians
Mumbai contests spell uncertainty for parties
Kejriwal files papers from Varanasi, blasts Modi, Rahul
BJP sees red as St Xavier’s principal questions ‘Gujarat model’
EC empowers citizens to check use of black money
Politics is not about personal attacks: Priyanka
Pakistan
Defence ministry seeks suspension of Geo TV licence
Extreme fear stalks media as hardliners seek to silence dissenting voices
Government, Taliban panel reach consensus on extending ceasefire
Nepra cuts power tariff by Re1 per unit for one month
Four 3G, 4G licences sold for $1.1b
Middle East
Lebanon fails to elect new president in first round vote
Chance saves Egypt’s stolen antiquities
US to deliver choppers to Egypt after freeze lifted
11 more Mers virus cases reported in S. Arabia
Amnesty slams forced labour in Qatar
French park turns home for Syria refugees
Asia
Obama reassures Japan, allies
Washed-up material under investigation for MH370 link
Divers feel for ferry victims’ bodies by touch
Peace deal ‘will not create Islamic state’ in Mindanao
MH370 hunt exposes China naval flaw
Business
Omantel nets 101m rials from follow-on offer
Governments should encourage business contests in schools
China manufacturing rises slightly in April: HSBC
ahlibank posts 6.1m-rial net in Q1
Indian rupee closes below 61-mark
Sensex hits record high for third straight session
India crop output to take a hit as less rain predicted this monsoon
UK deficit falls to 6.6% of GDP, lowest since financial crisis
EU cuts deficit, but debt mounts to 92.6% of GDP
Europe
Kiev resumes army operation
Set aside differences to fight radical Islam, Blair tells western leaders
Woman held for ‘murder’ of 3 kids in London
France to clamp down on Syria jihad network
1915 Armenia killings inhumane, says Erdogan
Sports
Cautious Chelsea frustrate Atletico
Mohammed, new kid on the block
Benfica, Juve set for semis showdown
Ancelotti, Van Gaal top candidates for United job
Moyes thanks Ferguson for opportunity to lead ManU
Wizards pip Bulls in OT for a 2-0 lead
Ex-champ Collazo predicts win over Khan next week
Unbeaten Jadeja stars in Chennai win
Young sailors set for race in Musannah

Sports


International

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