Sheikh Mohammed okays $18b Dubai budget for 2020

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Dubai Sheikh Muhammad

Web Report

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, on Sunday, approved a three-year budget from 2020 to 2022 with a total expenditure of Dh196 billion.

In continuation of the government’s approach, the budget focuses on boosting the overall macroeconomy of the emirate.

Moreover, the budget for 2020 was also approved with a total expenditure of Dh66.4 billion. It is the largest budget in the history of Dubai. The budget will stimulate the local economy and support to make Expo 2020 Dubai a special and prominent event in the history of the world’s largest and most prestigious exhibition.

The next year’s budget spending focuses on social services, which include healthcare, education, culture and social housing, in addition to developing a social benefits fund and supporting families.

Abdul Rahman Saleh Al Saleh, Director-General of the Department of Finance in Dubai, said the budget will provide economic incentives in order to attract more investments and improve the emirate’s competitive position. It is also aimed at implementing its benefits and targets from the Strategic Plan 2021 and beyond.