Dubai budget to boost growth; Sharjah clears largest ever plan

Khalifa forms new economic council; Dubai’s budget sets 35 per cent for wages and allowances; Sultan approves Dhs33.6 billion budget for Sharjah.

- Inayat-ur-Rahman

In his capacity as Ruler of Dubai, His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, has approved the Government of Dubai’s general budget on Sunday for the fiscal year 2021, with total expenditures of Dhs57.1 billion.

Dubai government is expected to achieve public revenues of Dhs52.314 billion, despite the economic incentive measures adopted by the government that would reduce some fees and freeze the increase in fees, and the decision to not impose any new fees without providing a new service.

The newly-announced budget takes into account the exceptional economic conditions of the fiscal year 2020 and the repercussions of the COVID-19 pandemic on the global economy. It also confirms Dubai’s ability to deal with the crisis, restore the pace of economic growth, strengthen social benefits and essential services and adopt policies that achieve growth, economic stability and financial sustainability in the medium and long term. The 2021 budget also demonstrates continued efforts to develop revenues, raise the spending efficiency and increase the level of private sector engagement.