People are the greatest resource of a country and the UAE is continuing to invest heavily in the development and well-being of its citizens.
The Cabinet has approved a Dh122 billion zero-based three-year budget. The 2011 allocation will focus on social development, with Dh19 billion, or 46 per cent of the budget for the year, earmarked for education, health, pensions, social assistance, the Shaikh Zayed Housing Programme and the Marriage Fund.
These programmes will ensure the health and welfare of UAE citizens are well taken care of in the coming years. The investment in education is particularly important as this will provide the next generation with the skills they need to contribute to the growth and development of the economy.
To ensure that the funds are well utilised in these difficult economic times, the budget has been zero-based — every allocation, not only new items or increased expenses, has to be justified and approved before it is included in the spending plan. This is in line with international best practice and will help the Cabinet monitor government spending and ensure programmes are being implemented effectively.
By outlining its spending plans for the next three years, the Cabinet has also increased the transparency of government finances, which will help boost investor confidence.
