A surge in oil export earnings allied with spending cuts depressed Abu Dhabi’s fiscal deficit by more than half in 2010 while Dubai slashed the shortfall to just a third of its 2009 level, according to the IMF
Abu Dhabi’s total revenue swelled to around Dh188.4 billion in 2010 from Dh143.9 billion in 2009 after oil export earnings soared to nearly Dh169.2 billion from Dh121.7 billion because of higher prices and output by the emirate.
Investment income, which is usually not included in the announced budget, dipped to nearly Dh13.1 billion from Dh16.5 billion, the Washington-based International Monetary Fund said in a study.
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