A budget of AED 57.1 billion has been approved by the Dubai Government to spend on numerous sectors including infrastructure, security, justice and transportation for the fiscal year 2021.
In a bid to recover from the aftermath of Coronavirus and the global financial crisis that followed, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai, approved the whopping budget to help recover economic growth, support educational, social and health services, as well as support the private sector, touted as “one of the main engines of economic growth.”
Arif Abdulrahman Ahli, Executive Director, Planning and General Budget Sector at Department of Finance, claims Dubai’s GDP is expected to grow by four per cent. He believes the budget reflects on the emirate’s financial stability through its implementation.
From the AED 57.1 billion budget, 41% of it will be allocated for infrastructure and transportation, 31% for social development and 22% for security, justice and safety.
Photograph credit: Dubai Media Office)
Meanwhile, Sharjah recently approved its biggest annual general budget, with His Highness Dr. Sheikh Sultan Bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, approving AED 33.6 billion to be spent for the fiscal year 2021, 12% higher than the 2020 budget.
(Featured photograph credit: Dubai Media Office)