Dubai’s budget deficit may be lower than expected
Good news for Blackberry carrying types – share prices on the DFM rose 0.5% after reports emerged indicating that Dubai’s economy is performing better than expected. It seems that this year’s budget deficit could be lower than 2% of GDP, making the emirate a more desirable investment than it has been in recent months. The [...]
Dubai scales down growth and records its first budget deficit
As you are no doubt aware, the global recession is hitting Dubai hard. Even the relentlessly optimistic and upbeat Dubai Government is being forced to acknowledge this as it revises it growth forecasts till 2015 downwards from 11 percent per year to 4-6 percent per year in view of the global economic crisis. When the [...]
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