The UAE Cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President, Prime Minister and Ruler of Dubai, has approved on September 30 a zero-deficit federal budget of Dh180 billion for the next three years (2019-2021).
Through his social media account, Sheikh Mohammed bin Rashid shared the news regarding the approval of the federal budget, 59% of which will go to education and social development.
“Citizens are top priority, and we have allocated the largest part of the budget to ensure their prosperity, health, education and security,” Sheikh Mohammed bin Rashid said.
The 2019 budget was approved at a total value of Dh60.3 billion, which 17.3% higher compared to its preceding budget worth Dh51.4 billion.
The said budget for next year will be allocated to various sectors with a focus on those directly linked to citizens’ well-being, health, and education. It includes 42.3 percent for community development, 17 percent for education development, and 7.3 percent for healthcare services.
During the Cabinet meeting, a new federal law was adopted to regulate the space and advanced technology sectors in the UAE. Sheikh Mohammed bin Rashid tweeted, “The goal is to open up the space sector to investment, research and partnership building.”
“It was a coincidence to adopt a large federal budget with the new law for space sector. Both will take the Emirates to new heights,” he added.
The session was attended by H.H. Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior, and H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs.
