Announcing the new budget UAE Prime Minister and Ruler of Dubai Shaikh Muhammad bin Rashid Al Maktum said that the 2013 budget is the last part of a three-year financial plan of Dh133bn ($36.2bn) covering the period 2011-13. The three-year budget, announced in November 2010, was intended to achieve sustained growth according to the state’s strategic plan. Originally this budget totaled Dh122bn ($33.2bn), but has apparently been raised to Dh133bn ($36.2bn). Shaikh Muhammad said that the new budget will focus on health, education and social spending, as well as the improvement in government services.

On the revenue side the budget did not give details of the contributions of the richer emirates of Abu Dhabi and Dubai to federal fiscal funding. But according to an earlier report, Abu Dhabi could contribute up to 70% of total revenue (MEES, 17 October 2011). (CONTINUED - 513 WORDS)