{"id":7953,"date":"2008-06-24T00:00:00","date_gmt":"2008-06-24T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"strong-wealth-fund-growth-boosts-uae-fiscal-stability","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/06\/2008\/strong-wealth-fund-growth-boosts-uae-fiscal-stability.html","title":{"rendered":"Strong wealth fund growth boosts UAE fiscal stability"},"content":{"rendered":"<p>Business24-7- When oil prices were as low as $10-20 a barrel two decades ago, the UAE seriously considered borrowing from the local market to finance its swelling budget deficit. But the plan was shelved in favour of painful spending cuts.<\/p>\n<p>Such reductions, however, could not be maintained for a long time because of the rising domestic development needs and a seven per cent growth in the population. As a result, the deficit in the country sharply widened.<\/p>\n<p>Yet authorities still never considered borrowing or introducing income taxes for two reasons: the country&#8217;s petrodollar income was swelling and a gigantic overseas investment empire was taking shape.<\/p>\n<p><a href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/www.business24-7.ae\/Articles\/2008\/6\/Pages\/06242008_12f9ddbf7d91472f88605c938164c520.aspx\" target=\"_blank\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Business24-7- When oil prices were as low as $10-20 a barrel two decades ago, the UAE seriously considered borrowing from the local market to finance its swelling budget deficit. But the plan was shelved in favour of painful spending cuts. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[1038,122,200,1037,1035,900,878,1036],"class_list":["post-7953","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-decades","tag-dee","tag-exchange-trading","tag-mainstream","tag-market-watch","tag-mutual-fund-companies","tag-relocate","tag-rest-of-the-world"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/7953","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=7953"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/7953\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=7953"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=7953"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=7953"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}