Dubai Deficit Shock
Government expected to post first ever budget deficit as financial crisis hits home
Dubai is expected to post its first ever budget deficit this year as the cost of transforming it into a financial, media and tourist hub hits home. The deficit was expected to reach 4.2bn dirhams (£750m), said Dubai's finance department. Many of the Gulf emirate's most ostentatious construction projects have been put under review as the global economic crisis takes hold.
Use the feedback form below to submit your comments.
Use the form below to email this article to your friends.
- World Markets Plunge as Auto Bailout Collapses
- OPEC Cuts Production of Oil to Provide "Floor" for Prices
- Greeks Fear Meltdown and Unrest in Eu's Weakest Economy
- The Economy By Andrew Clark
- Mamma Mia! Has the Financial Crisis Really Made Us Poorer Than the Italians?
- Recession Will Be Longer and Deeper Than Previously Thought, Says Oecd
- Recession Could Last Long Into 2010
- EU Must Work With Us to Combat Recession, Says Barroso
- Food Prices Add 40 Million People to Number of Malnournished in Year
- From Berlin to Beijing, Chancellors and Presidents Feel the Strain
- EU Trio Press Germany for Bigger Contribution to Stimulus Plan
- 'Lost Decade' a Warning to West
- Millions of Chinese Graduates Out of Work After Fivefold Rise in University Places
- Can Internet Companies Survive a Recession?
- What is a Recession?
- Causes of Economic Recession
- Congress Passes Historic Economic Bailout Plan
- Congress Struggles to Revise Bailout Bill
- House Vetoes Wall Street Bailout
- Lawmakers Say Deal on Bailout Reached
- Second Wave of the Housing Crisis
- H-1B Visa Program Spirals Downwards
- Recession Declared Officially Over, Unemployment Still Rising
- Consumer Sentiment Rises More than Expected
- Recession Fighting Back in July, New Recovery Concerns for Economy
- Leading Indicator Shows Recession May Soon End
- Large Swath of the Country Left Untouched by Recession
- Recession Blues are Bad for Your Health
- Obama Doesn't Blame Bush for Current Economic Crisis
- Economic Recession - What Happens During a Recession
- Benefits of Economic Recession
- Economic Recession and Depression - Definition and Difference
- Recession May be Coming to a Close, But Rough Waters Ahead
- US Economic Crisis: Impact on Automobile Industry
- Public Backlash Growing Over AIG Bonuses for Executives