UAE Cabinet approves Dh180-billion 'zero-deficit' federal budget
Dubai: A zero-deficit federal budget of Dh180 billion for the next three years has been approved by the UAE Cabinet, it was announced on Sunday.
His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai, announced the approval of the federal budget following a Cabinet meeting.
In a tweet, Shaikh Mohammad stated: “I have chaired today a Cabinet meeting, during which we approved the federal budget of Dh180 billion for the next three years.”
He added: “59% of the budget will go to education and social development.”
The budget will also be the biggest in the history of the Union, according to him.
ترأست اليوم اجتماعا لمجلس الوزراء اعتمدنا خلاله 180 مليار درهم ميزانية الاتحاد خلال الثلاث أعوام القادمة .. 59% من ميزانيتنا للتعليم وتنمية المجتمع .. موازنتنا بلا عجز .. وميزانية العام القادم ستكون الأكبر في تاريخ الاتحاد .. pic.twitter.com/OyJXxb3r2W
— HH Sheikh Mohammed (@HHShkMohd) September 30, 2018
During cabinet meeting today, also a new federal law was adopted to regulate the space and advanced technology sectors in the UAE.
Shaikh Mohammad tweeted “the goal is to open up the space sector to investment, research and partnership building.” Adding “It was a coincidence to adopt a large federal budget with the new law for space sector. Both will take the Emirates to new heights”.
كما اعتمدنا اليوم قانونا اتحاديا بشأن تنظيم قطاع الفضاء .. والهدف فتح قطاع الفضاء أمام الاستثمار والأبحاث وبناء الشراكات.. كانت صدفة أن يتزامن اعتماد الميزانية الأكبر اتحاديا مع تنظيم قطاع الفضاء.. كلاهما سيحلق بالإمارات لآفاق جديدة بإذن الله .. pic.twitter.com/IQBIl8OiRr
— HH Sheikh Mohammed (@HHShkMohd) September 30, 2018