Top Stories

Mohammed bin Rashid approves Dh56.8-B Dubai’s budget for 2019

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has approved the Dh56.8 billion budget plan of the Dubai Government for the fiscal year 2019.
The general budget will be a continuation of Dubai’s approach to boost the macro-economy and meet its aspirations of improving entrepreneurship and social happiness further, said H.H. Sheikh Mohammed bin Rashid in a statement.

Dubai is expecting an estimated general revenue of Dh51 billion in 2019, up by 1.2 per cent from 2018.

Last year, Dubai had Dh56.6 billion general budget. Through fiscal year 2019, Dubai aims to continue its various social services for its citizens such as health, education, culture and housing, and to develop and stimulate the Social Benefits Fund and support families, in a move to make the emirate one of the best cities in the world.

H.E. Abdulrahman Saleh Al Saleh, Director General of DIFC, said: “In the coming years, Dubai will continue to develop the performance of the general budget in order to ensure financial sustainability. The Emirate of Abu Dhabi will be able to attract more investments, improve the competitiveness of the emirate and implement the benefits and objectives of the Strategic Plan 2021, as directed by the wise leadership.”
Al-Saleh explained that the FY2019 budget supports the economic and social stimulus decisions, the changes in the law of human resources management of the Government of Dubai, as well as the raise of the social benefits budget. He added that the government of Dubai has achieved an operating surplus of 850 million dirhams due to the adoption of disciplined fiscal policies.
The Government’s budget aims to provide 2,498 new jobs this year, continuing the government’s approach to job creation. Salary and wage allowances accounted for 32% of total government spending. Public and administrative expenses and grant and support expenses accounted for 47% of total government expenditure.

Staff Report

The Filipino Times is the chronicler of stories for, of and by Filipinos all over the world, reaching more than 236 countries in readership. Any interesting story to share? Email us at [email protected]

Related Articles

Back to top button