Write your own headline
The Financial Times chose the headline, "Dubai to spend through crisis" writing,
Nasser al-Shaikh, director general of the department of finance, said the government is planning to increase by around 20 per cent the budgeted public spending of about Dh30bn ($8.2bn, €5.8bn, £5.6bn) in 2008.However, the Financial Times went on to point out,
“The role of government is to increase spending during challenging times and provide a stimulus to the economy,” he told the Financial Times.
But the department of finance, which oversees public bodies such as the utilities company and the transport authority, is still overshadowed financially by state-owned and state-linked companies that play the dominant role in the economy, such as Emirates airlines and Dubai Holding, the conglomerate owned by the ruler Sheikh Mohammed bin Rashid al-Maktoum.You can't follow an expansionary policy if you don't have the cash to do it.
These commercial entities’ ability to expand in the coming year will be constrained by tougher business conditions and difficulty accessing international capital.