Dubai Business News — The United Arab Emirates' federal budget deficit touched Dh1.2 billion ($326.7m) end of September this year and is expected to be lower by the year end, the Minister of State for Financial Affairs said on Sunday.
"We expect it to decrease by end of 2011," Obaid Humaid Al Tayer told reporters on the sidelines of a conference in Abu Dhabi.
The minister said there are no plans to impose any new taxes or fees next year to finance any possible budget deficit. The projected budget deficit for 2012 is Dh400m, he said
Reports from Emirates247.com.
"We expect it to decrease by end of 2011," Obaid Humaid Al Tayer told reporters on the sidelines of a conference in Abu Dhabi.
The minister said there are no plans to impose any new taxes or fees next year to finance any possible budget deficit. The projected budget deficit for 2012 is Dh400m, he said
Reports from Emirates247.com.
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