Dubai to Have Lowest Budget Deficit in Five Years, Alrroya Says

Dubai is expected to achieve its lowest budget deficit in five years as it reduces spending on development and infrastructure projects, Alrroya Aleqtissadiya reported, citing a government official it didn’t identify.

Dubai’s budget deficit is expected to be 50.6 percent, or 1.8 billion dirhams, in 2012, the newspaper reported. Government spending on infrastructure this year will be 5.9 billion dirhams, down from 7 billion dirhams in 2011, the newspaper reported.

To contact the reporter on this story: Zainab Fattah in Dubai at zfattah@bloomberg.net

To contact the editor responsible for this story: Andrew Blackman at ablackman@bloomberg.net

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