Abu Dhabi maintained high capital spending in 2010 as part of massive fiscal expansion measures taken by the oil-rich emirate to mitigate the effects of the 2008 global fiscal distress and slackening bank lending.
Official data showed capital expenditure was as high as 38.3 per cent of total public spending in 2010, slightly lower than the previous year’s 39.2 per cent but much higher than the 35.7 per cent recorded in 2008.
Analysts believe the size of capital spending last year was higher than in 2009 on the grounds total expenditure was boosted by at least 10 per cent, Current spending, comprising salaries and government purchases, accounted for nearly 61.7 per cent of total expenditure in 2010 compared with 60.8 per cent in 2009, the Abu Dhabi Department of Economic Development (DED) said.
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