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Shaikh Mohammad Bin Rashid Al Maktoum Image Credit: GN Archives

Dubai expects to slow the growth of state spending this year but continue spending heavily on infrastructure as it prepares to host the Expo 2020 world fair, a statement by His Highness Shaikh Mohammad Bin Rashid Al Maktoum,  Vice President and Prime Minister of the UAE and Ruler of Dubai, said on Tuesday.

State spending will total Dh56.8 billion ($15.5 billion), Dubai's 2019 budget plan said. That would be only a marginal increase from last year's original budget plan of Dh56.6 billion, which was a 19.5 per cent rise from 2017.

Meanwhile, state revenues are projected to reach Dh51 billion this year, up 1.2 per cent from last year's budget plan, the statement said.