UAE cabinet has approved Federal Budget of AED 61.354 billion

The UAE Cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, has approved a zero-deficit federal budget of AED61.354 billion for 2020 fiscal year. This is the largest budget since the establishment of the UAE.

About 31 percent of the budget is allocated to social development, aiming to implement the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, to offer UAE citizens and residents a decent life and achieve the objectives of the UAE Vision 2021 and the UAE Centennial 2071.

The budget is distributed to various sectors related Emirati citizens and services, with 31 percent being allocated to social development, 14 percent to infrastructure and economic resources, 6.5 percent to social benefits, and 32.6 percent to government affairs.

“The year 2020 will be the start of a new and rapidly developing decade. The federal budget is balanced and reflects our national priorities,” said His Highness Sheikh Mohammed bin Rashid.

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