Deficit in budget and improvement in revenues in Emirates

Positive indicators show the United Arab Emirates could possibly get rid of the country’s budget deficit soon.

There is an overall surplus in revenues, and oil revenues hit their highest point since crude oil exports began in 1962, while the national bank's profits reached $666 million in 1996.

The UAE government, however, could not overcome the deficit due to the high 18.78 billion Dirham expenditures approved for 1997.