Source: Gulf Today

Sheikh Mohammed approves largest budget ever in Dubai’s history with revenues of Dhs302 billion

His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, stated that the Dubai government's budget for 2025-2027 had been approved. The budget, which represents the largest in the history of the emirate, comprises revenues of Dhs302 billion and expenditures of Dhs272 billion.

A total of 46 per cent of the budget for the forthcoming financial year has been earmarked for infrastructure projects, including the construction of roads, bridges, energy facilities and water drainage networks. In addition, 30 per cent of the budget has been allocated to the development of health, education, social development, housing and other community services.

In a tweet on the "X" platform, His Highness said, “The budget for the forthcoming year is expected to result in an operating surplus of 21 per cent of total revenues, marking the first occasion on which this has been achieved. The objective is to establish financial sustainability for the Dubai government.”

He continued, “In the current fiscal year, we have initiated a portfolio of Dhs40 billion, designed to facilitate partnership between the public and private sectors. The objective is to invest and conserve financial surpluses for future generations, thereby ensuring the long-term financial stability of the Dubai government.”

“Maktoum Bin Mohammed is spearheading this initiative with remarkable competence. We reaffirm our confidence in him and his team, and we assert that Dubai is progressing towards a future with confidence, financial sustainability, stability and advancement. The future holds promise for Dubai,” Sheikh Mohammed added.

2024-10-30 09:45:07

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Sheikh Mohammed approves largest budget ever in Dubai’s history with revenues of Dhs302 billion

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