Cabinet approves draft budget for 2006
The council of ministers approved in early October the draft finance bill for 2006, forecasting a budget deficit despite higher revenues. Forecast revenues are expected to reach AD 1,667,900 million ($23,076 million), up 2.3 per cent year-on-year, while expenditure is forecast at AD 2,631,400 million ($36,406 million), a 14.3 per cent increase on 2005. However, the budget is based on a conservative oil price forecast of $19 a barrel, which is expected to be exceeded by a significant margin. ...
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