ABU DHABI, March 4 (Reuters) - The United Arab Emirates said on Wednesday it was revamping the way it develops its federal budget, including releasing budgets every three years and adopting a "zero-based budgeting" format.
The first three-year budget would run from 2011 to 2013, and the draft would be ready by November this year, the oil exporter's Ministry of Finance said. Analysts deemed the move as more appropriate to help the country prioritise spending.
The UAE, a federation of seven emirates including Abu Dhabi and Dubai, currently releases budgets every year and uses an incremental budgeting process. Each emirate, meanwhile, devises its own budget.
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