Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has approved a Dhs58bn budget for the UAE for 2021.
He approved the budget during a meeting of the cabinet on Sunday, November 1, and took to Twitter to confirm that development projects would continue to be a top priority.
ترأست اليوم اجتماعاً لمجلس الوزراء أقررنا خلاله الميزانية العامة للاتحاد ٢٠٢١ بمصروفات تقديرية ٥٨ مليار درهم .. مشاريعنا الوطنية الحيوية ستبقى مستمرة في ٢٠٢١ .. وأولويات التنمية ستبقى أولوية.. pic.twitter.com/7WfEqOWeal
— HH Sheikh Mohammed (@HHShkMohd) November 1, 2020
The UAE’s federal budget for 2020 stood at Dhs61.35bn, its highest ever.
Therefore, the budget for 2021 at Dhs58bn is 5.4 per cent lower than the 2020 figure.
In September this year, the government revealed a total budget surplus of around Dhs9.75bn for the first half of 2020.
Read: UAE federal budget records Dhs9.75bn surplus in H1 2020
The total spending of the UAE federal government amounted to Dhs24.9bn by the end of Q2 2020, while its total revenues meanwhile were reported to be Dhs34.7bn.
More details to follow
