Dubai plans expenditure of $16.33bn this year, prioritising social and infrastructure spending.
Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, approved the emirate’s budget for 2022 to 2024 that allocates Dh181 billion ($49.28bn) for spending, including Dh60bn expenditure planned for this year, Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, said in a tweet on Sunday.
The government wages and salaries will account for 34 per cent of total spending in 2022. The emirate is allocating 24 per cent to general and administrative expenses, 21 per cent to grants and government support, 4 per cent to capital expenditure while 6 per cent will go to debt servicing.
Dubai plans to spend 9 per cent of total expenditure in 2022 on infrastructure projects while 2 per cent is being kept as special reserves, according to the tweet.
“The priority will remain for citizens, their happiness and providing them with the finest services,” Sheikh Hamdan said.
(Except for the headline, this story has not been edited by The Finance World staff and is published from a syndicated feed.)
