Dubai 2019 budget to slow spending growth, sees small revenue rise

Wednesday, 2 January 2019 00:00 - - {{hitsCtrl.values.hits}}

DUBAI (Reuters): Dubai expects to slow the growth of state spending this year but continue spending heavily on infrastructure as it prepares to host the Expo 2020 world’s fair, a statement by the emirate’s ruler Sheikh Mohammed bin Rashid Al Maktoum said yesterday.

State spending will total 56.8 billion dirhams ($ 15.5 billion), Dubai’s 2019 budget plan said. That would be only a marginal increase from last year’s original budget plan of 56.6 billion dirhams which was a 19.5% rise from 2017.

Meanwhile, state revenues are projected to reach 51 billion dirhams this year, up 1.2% from last year’s budget plan, the statement said.

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