UAE Official Discusses Budget and Infrastructure Amid Global Financial Crisis

rightful=2 Oroad. You ask how? I tell you: the global financial crisis is a challenge we have faced and surpassed in its most difficult stages. We are insistent on developing the education and obtaining excellence in all our projects and our work, in addition to protecting our favorable environment for innovation and leadership. What we have achieved over the past 10 years is characterized with excellence and leadership, and we are capable and determined to achieve what is more excellent, innovative and prominent in the future. AL ITTIHAD Your Highness, you asked the Ministry of Finance last year to prepare the federal budget of the State 2009. The early announcement prior to the global economic crisis has resulted in a deficit-free budget. Would the global crisis have implications on the 2010 budget, particularly with regard to the basic needs of Emirati citizens? In the last three years, the federal budget was issued early and before entering the new fiscal year. The submission of the budget for 2009 without a deficit is because its main provisions have not been affected by the global financial crisis. I also do not think that 2010 budget will be affected. We still have seven months for the year to end, and in my opinion this is quite a long period -- we may see by the end of it some positive indicators that would help in accelerating the recovery of the global economy. AL ITTIHAD There are those who say that the senior positions in Dubai are granted to a few selected people, which is described as the phenomenon of the ''Super Man.” How would you comment on this? My answer is that all positions are available to competent Emiratis and we are very keen on rejuvenating our system. The “Super Man” phenomenon that you are talking about does not exist in our organizations and institutions. I am aware of those reports but would invite you and others to conduct a search within those senior positions to discover the truth on your own. AL ITTIHAD In light of the global crisis some companies announced the postponement and rescheduling of some projects. What is the status of the infrastructure projects undertaken by the government subsequent to the changes in the strategic plans? We will continue working on the infrastructure projects without any delay. What is currently under implementation will be completed, while we will re-schedule the new projects. The changes of the strategic plan will be announced as soon as the committee finishes reviewing them. Plans are always subject to change in normal times and in times of crisis. By Al-Khaleej Daily Despite the competitive investment environment enjoyed by the UAE, with its advanced regional advantages, there are some aspects of the legislative environment that do not quite match the levels of development and state of the national economy. Do we expect any updating of the present laws, soon? The economy is like a living being, whose demands and needs change with constant growth and development. HOUSE_OVERSIGHT_024946