It emerged on Tuesday that President of the United Arab Emirates, Shaikh Khalifa Bin Zayed Al Nahyan has signed federal legislation ratifying the 2005 budget.
The budget, which is the first to have a zero deficit since 1981, projected revenues for 2005 at Dh22.703 billion, with the same figure forecast for expenditure. No new taxes or fees were introduced when the budget was unveiled earlier this year.
Education will be the main focus of government spending, accounting for 39% of the budget allocation, with security and health spending also important priorities at 13% and 10% respectively.
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