Dubai deficit to be less than predicted

24/08/2010 - Dubai Investment News
Dubai deficit to be less than predicted

The government deficit in Dubai could be smaller than originally predicted, it has been claimed.

Dhahi Khalfan Tamim, head of the emirate's budget committee, said the deficit for 2010 could be lower than the two per cent of GDP that the government first estimated, Reuters reported.

The chief hinted that new measures to boost government income are unlikely to be introduced.

"This year we will not go over [the planned budget deficit], it could be less," he told the news provider.

"As a local and even as the government, I want to keep everything as it is. I want Dubai to be the cheapest city in the region."

The report stated that Dubai faces a national debt of around $100 billion (AED367 billion) and has a budget gap of AED6 billion for 2010, up from AED4.6 billion last year.

"We are sure to keep our budget as predicted. This year everything is going perfect. We will do anything not to go over the budget," Tamim added.

Posted by Bob Brunswick

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