Dubai: Private sector leaders hailed the budget, saying, despite the economic situation,
the government has increased sectoral allocation and spending — a good sign that
the UAE economy will continue to grow.
Yousuf Ali, Managing Director of EMKE Group and Director of Abu Dhabi Chamber of
Commerce and Industry, said: "A very well balanced and forward looking budget with
stress on social sector development. To come up with a zero deficit budget that
too during such challenging times is in itself a commendable achievement and I congratulate
the authorities for this."
"This will send out a strong message to both local business community here and the
international market about the robustness of the UAE's economy and how it was able
to withstand global slowdown.
"During the height of this recession, there were scepticism in the minds of many
people about the growth prospects of the UAE, especially with the real estate industry
taking a big hit. But the timely actions and market interventions by the authorities
have yielded tremendous results," Ali said.
Jitendra Gianchandani, Managing Partner, Jitendra Chartered Accountants, said: "The
UAE government shows the consistency for presenting sixth consecutive zero deficit
budget, also budget reflects no compromise on the quality of the education, health
and social affairs, as 41 per cent are allocated to social development sector."
"Not only that budget has considered strengthening nation's security, this will
give sense of security to the internal and external community.
"I am sure this budget is outstanding and doesn't reflects recession what's so ever,"