Dubai's 2010 budget balances growth with economic welfare

14/01/2010 - Dubai Investment News
Dubai's 2010 budget balances growth with economic welfare

Posted by Neil King

The Dubai government's 2010 budget seeks to promote continuing growth in the emirate while supporting businesses through difficult conditions, the Dubai Chamber of Commerce and Industry has said.

According to the chamber, the budget reflects the emirate's commitment to a progressive fiscal programme following the challenges of 2009.

The budget's key features include the continuation of work for the development and completion of the emirate's infrastructure projects. It also sets out to foster advancements in public and social services as well as to improve overall security measures.

Government revenues will reach AED 29.4 billion under the 2010 budget while government spending will reach AED 35.4 billion.

Hamad Buamim, director general of the Dubai Chamber, said: "This sound and prudent balance will send a strong message to the business community about the seriousness of the government to push ahead with a rational budget in 2010 and ensure that the economy is on a long-standing stable growth trajectory."

This week, the Dubai Chamber announced that its members' December export figures amounted to a record AED 18.5 billion, up from the November figure of AED 15.4 billion.

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