Dubai ruler approves 2022-2024 budget – ArabianBusiness.com
Dubai’s AED181 billion ($49bn) budget for fiscal years 2022-2024 was approved on Sunday by ruler Sheikh Mohammed bin Rashid Al Maktoum, Dubai’s deputy ruler said in a tweet on Sunday.
The budget includes expenditure of AED59.95bn for 2022, and the new budget will boost Dubai’s efforts to stimulate the macro economy, the tweet said.
The government allocated 42 percent of total expenditure for this year toward infrastructure and transportation sectors, while 30 percent was set aside for social development. It expects 57 percent of revenue to come from fees and 20 percent from value-added and custom taxes.
