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UAE to maintain federal spending despite oil price drop

01 June 2010

The UAE finance ministry has said that the country will maintain federal spending levels as outlined in its 2010 budget, despite a fall in oil prices, Reuters has reported. "We expect to progress in the way we have published our budget for 2010," finance ministry undersecretary and director general Younis al-Khouri said. The UAE does not include revenue from crude sales in its federal budget.

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