UAE to increase federal spending

26 August 2010

The UAE finance ministry is to draft a strategy for future debt issues by the end of 2010 and plans to increase federal spending in the next three years, Reuters has reported. The strategy would act as a guide to the federal debt management agency's activities and would be issued simultaneously with a law governing public debt issuance, Younis al-Khouri, undersecretary and director general at the ministry, said.

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