The GCC countries’ budget for 2015 received considerable attention from investors across the world, after all, the oil prices had collapsed to half by the end of last year. Three of the six GCC countries the UAE, Saudi Arabia and Oman unveiled their national budget for 2015 early this year. It was not surprising to see two of these countries running into deficit. The UAE, however, was an exception, revealing a balanced budget for 2015. The UAE, in particular Dubai, looked comfortable reporting higher spending and a budget surplus. Saudi Arabia, on the other hand, reported marginal increase in spending with a deficit. The UAE Federal Cabinet approved a balanced budget of $13.4 billion for 2015, which was 6.5 per cent higher from the last year, with no deficit or introduction of any new taxes. In fact, the budget indicated increased income and public spending, suggesting the UAE’s economy remained unaffected by the declining oil prices.