Dubai plans record spending to revive flagging economy

Dubai plans record spending to revive flagging economy

article author: AFPAuthor: Mon, 2019-12-30 01:30

DUBAI: Dubai unveiled a 2020 budget on Sunday projecting record spending of $18.1 billion, up 17 percent on this year, as it seeks to revive its flagging economy.

The Gulf city state expects revenues too to rise sharply next year as it hosts Expo 2020, the global six-month trade fair set to open on Oct. 20.

But it still foresees a deficit for the fourth year in a row of $700 million.Main category: Business & EconomyTags: Dubai