ABU DHABI // The Federal Government will run a Dh3 billion budget deficit next year and will freeze spending by state universities.
Federal spending is projected to be Dh41bn in 2011, with revenues at a little over Dh38bn, according to figures provided by the Cabinet and released yesterday at the FNC.
The overall federal budget for 2010 was Dh43.6bn, representing a six per cent cut.
A breakdown of the budget by ministry and federal authority provides an insight into the nation's financial strategy for the coming year.
It also offers a glimpse into the revenues of the Federal Government. The Abu Dhabi Government remains the second-biggest contributor after the Ministry of Finance, but the capital's funding has declined.
Funding for federal universities has been frozen at 2010 levels, despite concern over their finances and requests from them to increase their budgets.
The budget will be debated at an FNC session on December 28.
For the first time the UAE has used the so-called "zero-based" budget, which officials hope will reduce waste. Under this system, every expense by a ministry has to be justified before any funds are allocated.
The budget will be constant for three years, meaning that measures including the freeze on federal universities are likely to stay in place until 2013.
United Arab Emirates University's budget will remain at Dh1.3 billion, and that of Zayed University at Dh321 million. The Higher Colleges of Technology, where financial troubles were the subject of an FNC report this year, had its budget frozen at a little over Dh735 million.
Sheikh Nahyan bin Mubarak, chancellor of the HCT and Minister of Higher Education, told the FNC last month the university's budget was the root of its hardships.
The budget of the Federal Electricity and Water Authority, which provides utilities to the northern Emirates, was cut to Dh5.bn, despite frequent complaints of water and electricity shortages there.
The ministries are not allowed to ask for more money this year unless they can fund it from their own revenues, according to the Cabinet's budget resolution.
The federal budget does not include some significant sources of revenue and spending. Armed Forces spending is excluded, as are oil revenues, because the Constitution enshrines the right of each emirate to manage its own natural resources.
Abu Dhabi's contribution to the federal budget will decline from more than Dh14 billion in 2010 to Dh11.6bn in 2011. Dubai's contribution remains steady at Dh1.2bn. The rest of the projected 2011 revenue will come from services provided by the ministries.
Nevertheless, Abu Dhabi remains one of the main guarantors of services to the other emirates. "Without Abu Dhabi, half these emirates would have no electricity," said Abdul Raheem al Shaheen, an FNC member from Ras al Khaimah.
The largest source of revenue for 2011 is the Ministry of Finance, with a projected Dh16bn. That figure is believed to include the telecom provider Etisalat's contribution. The Ministries of Interior (Dh3.4bn) and Labour (Dh3.7bn) are next.
Younis al Khouri, the finance ministry's director general, said the deficit was very minor but that the country was considering alternatives.
The main recipients of funding are the Defence and Interior Ministries, at a little over Dh6bn each.
Federal spending on infrastructure projects and "economic resources", which incorporates the Ministries of Economy, Foreign Trade, Energy and Public Works, is more than Dh1.6bn.
The Ministry of Education will be one of the biggest recipients of funding, at Dh4.6bn. Health and Social Affairs ministries receive just over Dh2.5bn each.
Spending on social development, which includes all education spending, social benefits, health, labour, the Marriage Fund, the Zayed Housing Programme and charitable bodies such as the Red Crescent Authority, will reach Dh15bn, about 36 per cent of federal spending.
kshaheen@thenational.ae
This story has been corrected since its original publication. We stated that The Higher Colleges of Technology, where financial troubles were the subject of an FNC report this year, had its budget frozen at a little over Dh73 million. The figure in fact is Dh735 million.
MATCH INFO
Newcastle United 3
Gayle (23'), Perez (59', 63')
Chelsea 0
More on Palestine-Israeli relations
Results
Stage 7:
1. Caleb Ewan (AUS) Lotto Soudal - 3:18:29
2. Sam Bennett (IRL) Deceuninck-QuickStep - same time
3. Phil Bauhaus (GER) Bahrain Victorious
4. Michael Morkov (DEN) Deceuninck-QuickStep
5. Cees Bol (NED) Team DSM
General Classification:
1. Tadej Pogacar (SLO) UAE Team Emirates - 24:00:28
2. Adam Yates (GBR) Ineos Grenadiers - 0:00:35
3. Joao Almeida (POR) Deceuninck-QuickStep - 0:01:02
4. Chris Harper (AUS) Jumbo-Visma - 0:01:42
5. Neilson Powless (USA) EF Education-Nippo - 0:01:45
COMPANY%20PROFILE
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Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants
The specs
Engine: Direct injection 4-cylinder 1.4-litre
Power: 150hp
Torque: 250Nm
Price: From Dh139,000
On sale: Now
Business Insights
- Canada and Mexico are significant energy suppliers to the US, providing the majority of oil and natural gas imports
- The introduction of tariffs could hinder the US's clean energy initiatives by raising input costs for materials like nickel
- US domestic suppliers might benefit from higher prices, but overall oil consumption is expected to decrease due to elevated costs
Fixtures
Tuesday - 5.15pm: Team Lebanon v Alger Corsaires; 8.30pm: Abu Dhabi Storms v Pharaohs
Wednesday - 5.15pm: Pharaohs v Carthage Eagles; 8.30pm: Alger Corsaires v Abu Dhabi Storms
Thursday - 4.30pm: Team Lebanon v Pharaohs; 7.30pm: Abu Dhabi Storms v Carthage Eagles
Friday - 4.30pm: Pharaohs v Alger Corsaires; 7.30pm: Carthage Eagles v Team Lebanon
Saturday - 4.30pm: Carthage Eagles v Alger Corsaires; 7.30pm: Abu Dhabi Storms v Team Lebanon
THE SPECS
Engine: Four-cylinder 2.5-litre
Transmission: Seven-speed auto
Power: 165hp
Torque: 241Nm
Price: Dh99,900 to Dh134,000
On sale: now
RESULT
Huddersfield Town 1 Manchester City 2
Huddersfield: Otamendi (45' 1 og), van La Parra (red card 90' 6)
Man City: Agüero (47' pen), Sterling (84')
Man of the match: Christopher Schindler (Huddersfield Town)
The Brutalist
Director: Brady Corbet
Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn
Rating: 3.5/5
Company%20profile
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Winners
Best Men's Player of the Year: Kylian Mbappe (PSG)
Maradona Award for Best Goal Scorer of the Year: Robert Lewandowski (Bayern Munich)
TikTok Fans’ Player of the Year: Robert Lewandowski
Top Goal Scorer of All Time: Cristiano Ronaldo (Manchester United)
Best Women's Player of the Year: Alexia Putellas (Barcelona)
Best Men's Club of the Year: Chelsea
Best Women's Club of the Year: Barcelona
Best Defender of the Year: Leonardo Bonucci (Juventus/Italy)
Best Goalkeeper of the Year: Gianluigi Donnarumma (PSG/Italy)
Best Coach of the Year: Roberto Mancini (Italy)
Best National Team of the Year: Italy
Best Agent of the Year: Federico Pastorello
Best Sporting Director of the Year: Txiki Begiristain (Manchester City)
Player Career Award: Ronaldinho
In Search of Mary Shelley: The Girl Who Wrote Frankenstein
By Fiona Sampson
Profile
The specs: 2018 Dodge Durango SRT
Price, base / as tested: Dh259,000
Engine: 6.4-litre V8
Power: 475hp @ 6,000rpm
Torque: 640Nm @ 4,300rpm
Transmission: Eight-speed automatic
Fuel consumption, combined: 7.7L / 100km
UAE currency: the story behind the money in your pockets
The%20specs
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
THE LIGHT
Director: Tom Tykwer
Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger
Rating: 3/5
Guns N’ Roses’s last gig before Abu Dhabi was in Hong Kong on November 21. We were there – and here’s what they played, and in what order. You were warned.
- It’s So Easy
- Mr Brownstone
- Chinese Democracy
- Welcome to the Jungle
- Double Talkin’ Jive
- Better
- Estranged
- Live and Let Die (Wings cover)
- Slither (Velvet Revolver cover)
- Rocket Queen
- You Could Be Mine
- Shadow of Your Love
- Attitude (Misfits cover)
- Civil War
- Coma
- Love Theme from The Godfather (movie cover)
- Sweet Child O’ Mine
- Wichita Lineman (Jimmy Webb cover)
- Wish You Were Here (instrumental Pink Floyd cover)
- November Rain
- Black Hole Sun (Soundgarden cover)
- Knockin’ on Heaven’s Door (Bob Dylan cover)
- Nightrain
Encore:
- Patience
- Don’t Cry
- The Seeker (The Who cover)
- Paradise City
How to avoid crypto fraud
- Use unique usernames and passwords while enabling multi-factor authentication.
- Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
- Avoid suspicious social media ads promoting fraudulent schemes.
- Only invest in crypto projects that you fully understand.
- Critically assess whether a project’s promises or returns seem too good to be true.
- Only use reputable platforms that have a track record of strong regulatory compliance.
- Store funds in hardware wallets as opposed to online exchanges.
IF YOU GO
The flights: FlyDubai offers direct flights to Catania Airport from Dubai International Terminal 2 daily with return fares starting from Dh1,895.
The details: Access to the 2,900-metre elevation point at Mount Etna by cable car and 4x4 transport vehicle cost around €57.50 (Dh248) per adult. Entry into Teatro Greco costs €10 (Dh43). For more go to www.visitsicily.info
Where to stay: Hilton Giardini Naxos offers beachfront access and accessible to Taormina and Mount Etna. Rooms start from around €130 (Dh561) per night, including taxes.
Other workplace saving schemes
- The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
- Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
- National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
- In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
- Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
BEACH SOCCER WORLD CUP
Group A
Paraguay
Japan
Switzerland
USA
Group B
Uruguay
Mexico
Italy
Tahiti
Group C
Belarus
UAE
Senegal
Russia
Group D
Brazil
Oman
Portugal
Nigeria
The specs: 2019 Mercedes-Benz GLE
Price, base / as tested Dh274,000 (estimate)
Engine 3.0-litre inline six-cylinder
Gearbox Nine-speed automatic
Power 245hp @ 4,200rpm
Torque 500Nm @ 1,600rpm
Fuel economy, combined 6.4L / 100km
COMPANY%20PROFILE
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Mountain%20Boy
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Top Hundred overseas picks
London Spirit: Kieron Pollard, Riley Meredith
Welsh Fire: Adam Zampa, David Miller, Naseem Shah
Manchester Originals: Andre Russell, Wanindu Hasaranga, Sean Abbott
Northern Superchargers: Dwayne Bravo, Wahab Riaz
Oval Invincibles: Sunil Narine, Rilee Rossouw
Trent Rockets: Colin Munro
Birmingham Phoenix: Matthew Wade, Kane Richardson
Southern Brave: Quinton de Kock
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Panipat
Director Ashutosh Gowariker
Produced Ashutosh Gowariker, Rohit Shelatkar, Reliance Entertainment
Cast Arjun Kapoor, Sanjay Dutt, Kriti Sanon, Mohnish Behl, Padmini Kolhapure, Zeenat Aman
Rating 3 /5 stars
