Dubai’s budget deficit may be lower than expected
Good news for Blackberry carrying types – share prices on the DFM rose 0.5% after reports emerged indicating that Dubai’s economy is performing better than expected.
It seems that this year’s budget deficit could be lower than 2% of GDP, making the emirate a more desirable investment than it has been in recent months.
The news restored a measure of investor confidence and the principal beneficiaries have been the beleaguered Emaar Properties, which bounced to a two week high, and fellow construction industry company Drake and Scull International which gained for the forth consecutive day.
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