The government of the financially troubled Dubai announced on Thursday a projected 2010 budget deficit its of six billion dirhams (1.63 billion dollars/1.13 billion euros), or 16.9 percent of expenditure.
Income is projected at 29.4 billion dirhams (8.01 billion dollars), a 12 percent drop from 9.1 billion, the head of the department of finance, Abdulrahman al-Saleh, said in a statement carried by WAM state news agency.
Spending is projected at 35.4 billion dirhams (9.63 billion dollars), down 6.5 percent from last year's 10.3 billion.
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