The UAE'S financial and economic committee approved Wednesday a balanced draft federal budget for the fiscal year 2006 at Dh25.74 billion, say an increase of Dh3 billion compared 2005, a senior financial official announced.
According to WAM, Dr. Mohammed Khalfan bin Kharbash, Minister of State for Financial and Industrial Affairs, said the nil-deficit budget gives top priority to spending on public and higher education, directing 37 per cent of expenditure to this key sector.
