Dubai
Dubai, the business and financial hub of the UAE, has approved a 57.1 billion dirham ($15.55 billion) budget for 2021, when the economy is expected to recover from a contraction this year, its ruler said on Sunday.
The statement did not give a comparison to actual spending in 2020, but was slightly higher than a revised spending figure of nearly 56.16 billion dirhams quoted in Dubai’s sukuk prospectus seen by Reuters in August. However, the size of the 2021 budget is 14 percent below the 66.4 billion dirhams the government had initially planned for 2020.
Dubai government officials were not immediately available to comment.—AN
