Mohammed approves 2012 Dubai budget

His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on Sunday has approved the Government Sector Budget in Dubai for the year 2012.The budget directly applies directives as set by His Highness to focus on a prudent fiscal policy that provides the stimuli necessary to economic growth in the Emirate, the completion of the main infrastructure projects, and chart government expenditure in order to consolidate financial sustainability.A 53 per cent drop in the deficit to Dhs1.8 billion from the fiscal year 2011 forecasts shows the Emirate is serious in dealing with the Public Budget deficit while maintaining the growth and support averages for social, economic sectors and public services.