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UAE cabinet approves 2011 budget

08 November 2010

The UAE cabinet has approved a budget of Dhs41bn ($11.2bn) for fiscal year 2011. "The draft plan put the three year spending for the budget cycle 2011-2013 at 122 billion, while the spending for year 2011 is estimated at 41 billion," state news agency WAM said. "According to the cabinet decision, the draft budget for fiscal year 2011 will be the first zero-based budget based on a medium-term plan for the next three years." The Dhs41bn figure is less than planned spending for 2010.

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