UPDATE 1-Dubai 2019 budget halts spending growth as revenue rise slows | Reuters:
Dubai expects to almost halt the growth of state spending this year as revenues expand more slowly because of the emirate’s efforts to stimulate business investment, according to the 2019 state budget released on Tuesday.
State spending will total 56.8 billion dirhams ($15.5 billion), the plan showed. That would be only a marginal increase from last year’s original budget plan of 56.6 billion dirhams, which was a 19.5 percent rise from 2017.
Last year, budgeted infrastructure spending shot up by close to 50 percent, to 11.9 billion dirhams, as Dubai made preparations to host the Expo 2020 world’s fair.
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