Reaffirming the fiscal soundness of the nation's economy and the emirate of Dubai, His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai on Saturday issued, in his capacity as Ruler of Dubai, Decree number (1) for 2009, for announcing the annual budget for the emirate of Dubai, WAM reported. The budget has been formulated in line with the commitment of the government of Dubai to pursue a progressive fiscal programme aimed at supporting all sectors of the economy facing challenges in the wake of global financial constraints. The new budget plan has been developed with a vision to sustain the exceptional economic growth achieved by the emirate over the past few years. His Highness Sheikh Ahmed Bin Saeed Al Maktoum, Chairman of the Dubai Supreme Fiscal Committee announced that expected total revenues for 2009 are estimated to be AED 138 billion, a 4 per cent increase over 2008. The total government spending for 2009 is estimated to be AED 135 billion, an 11 per cent increase over 2008. The budget includes allocations for all sectors wholly controlled by the Government of Dubai, in addition to Public Services.
