Dubai's Oil and Gas Revenues Forecast at $954 Million in its Budget for 2012

摘要

The government budget of the emirate of Dubai for 2012 is aimed at reducing the deficit to Dh 1.83 billion ($498.6 million) from the Dh 3.78 billion projected in the previous budget. This is due to be achieved through an increase in revenues to Dh 30.43 billion, compared with a forecast of Dh 29.91 billion in the 2011 budget, and a reduction in public expenditure to Dh 32.26 billion from Dh 33.68 billion (AOG, 1 Feb., 2011). Oil and gas revenues are forecast at Dh 3.5 billion ($935.7 million), representing 11.5% of total budgetary receipts, while the rest will consist of rights and fees charged for services provided by the government, amounting to Dh 18.33 billion (60% of the total), and customs duties, taxes and other sources of revenue.