UAE’s new federal budget would propel the development of country; Ministers

By Shilpa Annie Joseph, Desk Reporter
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The UAE’s ministers of economy, education, and community development have remarked that the Emirate’s new five-year federal budget reflects its approach and the vision of the country’s leadership aimed at driving development and achieving prosperity and wellbeing.

The ministers said in a statement that the UAE’s budget will assist in ushering in a new age of greater achievements, excellence, and influence to realize the UAE Centennial 2071 objectives.

Abdulla bin Touq Al Marri
Abdulla bin Touq Al Marri
UAE Minister of Economy

“The adoption of the new five-year federal budget, the largest in the UAE’s history, highlights the fact that the UAE is marching forward, with the support and directives of its leadership, to achieve comprehensive and sustainable development. It also underscores the UAE’s solid financial position and its keenness to enhance its global economic stature, being a leading hub for trade, investment, business, and tourism.”

Mr. Hussain bin Ibrahim Al Hammadi, Minister of Education, has stated that the Cabinet’s approval of the federal budget will bring in a new age of government efficiency, as the UAE adopted a new dynamic and unprecedented approach, after an accurate assessment of the current situation and future forecasts.

He further added that the education sector accounts for 16.3 percent of the budget, demonstrating the leadership’s keenness to support education and allocate more resources to serve this important sector and ensure its sustainability.

Ms. Hessa Essa Buhumaid, Minister of Community Development, affirmed that “the approval of the UAE Cabinet, led by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, of the $78 billion (AED290 billion) federal budget, a 17.2 percent increase compared to last year’s budget, will help boost the UAE’s achievement rate.”

She also noted that the new budget will allow public and private institutions to launch more revolutionary projects and notable initiatives to propel the UAE’s development and improve its global competitiveness.

Related: UAE, UK shake hands on new action plan to bolster economic ties


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