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Shaikh Mohammad with Deputy Prime Minister and Minister of Interior, Lieutenant General Shaikh Saif Bin Zayed Al Nahyan, and the Deputy Prime Minister and Minister of Presidential Affairs Shaikh Mansour Bin Zayed Al Nahyan during the Cabinet meeting in Abu Dhabi on Tuesday. Image Credit: WAM

Dubai: UAE Cabinet approved Dh44.6 billion zero deficit budget, with special emphasis on social welfare, education and health on Tuesday.

The budget was approved at a Cabinet meeting chaired by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.

This is 7.6 per cent higher than the UAE federal budget of Dh41.4 billion announced in 2011.

Earlier, Shaikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, chaired the 18th meeting of the Fiscal and Economic Committee, to discus the 2013 federal budget.

The committee reviewed the draft budget for the fiscal year 2013 presented by the Ministry of Finance, and additional requests by federal ministries and departments, compared to the 2013 budget listed within the Dh122.5 billion federal government’s budget for 2011-2013, approved by the Cabinet in 2010, with Dh41.8 billion appropriated for 2012 alone.