UAE approves $49 billion federal budget for next three years – PM

DUBAI (Reuters) – The United Arab Emirates cabinet has approved a federal budget of 180 billion dirhams ($49 billion) for the next three years, the Gulf country’s prime minister said on Sunday.

Prime Minister Sheikh Mohammed bin Rashid al-Maktoum said on Twitter that the budget did not feature a deficit.

The federal budget accounts for only a small fraction of consolidated state spending in the UAE; individual emirates such as Abu Dhabi and Dubai also have their own budgets.

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