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UAE approves federal budget of $ 14 billion in 2018
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Economy News _ Baghdad The UAE government has approved an expansionary federal budget for 2018 with an expected spending of 51.4 billion dirhams ($ 14 billion), up 5.6 percent from the original 2017 budget plan , the government said. Almost stable spending in this year's budget. The federal budget usually accounts for only 14% of the country's total public spending. In addition to the federal budget, each of the seven emirates that make up the federation has their own budgets, which often exceed the budget of the union, especially in the big emirates such as Abu Dhabi. The federal budget is largely devoted to the functioning of federal government institutions. The UAE has reserves of crude oil of 97.8 billion barrels, the vast majority in the Emirate of Abu Dhabi. The UAE currently produces 2.7 million barrels of crude per day. |
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