Dubai: The Dubai government on Sunday approved a Dh60 billion budget for 2022.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, in total approved the 2022-2024 budget with total expenditures estimated at Dh181 billion.
In a series of tweets, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, said: “Sheikh Mohammed bin Rashid has approved Dubai’s budget for 2022-2024 with total expenditures estimated at Dh 181 billion. These include Dh60 billion for 2022.”
Ensuring the happiness of Emiratis and offering them the finest services will always be our first priority.
“Dubai government will continue to promote the emirate's position as a global economic center, enhance its competitiveness and meet our future aspirations by leading global economic recovery efforts in the next stage,” Sheikh Hamdan tweeted.
Dubai's new budget will continue to support social, health, educational and cultural services as well as investments in infrastructure projects in the emirate, as part of the objective of making Dubai one of the world’s best cities to live in.
Expected public revenue by the Dubai government
The Dubai government is expected to achieve public revenues of Dh57.55 billion. These revenues are based on ongoing operations in the emirate and do not rely on oil revenues. Oil revenues account for 6 per cent of the total projected revenues for the fiscal year 2022.
Non-tax revenues, which come from fees, account for 57 per cent of the total expected revenues, while tax revenues account for 20 per cent, customs revenues represent 10 per cent and government investment revenues 6 per cent of the total expected revenues.
Salary and wage allowances of the 2022 budget account for 34 per cent of total government. Grant and support expenditure account for 21 per cent.
The Dubai government has allocated 24 per cent of the budget for the general and administrative expenses while 2 per cent was allocated towards reserves, as a cushion to brace the impact of any crisis.
The government has approved 9 per cent of the total expenditure to maintain the volume of investments in infrastructure.
It also allocated 6 per cent of the total expenditure to serve the public debt.
Dubai's keenness to develop its infrastructure and transportation has led to an allocation of 42 per cent of total spending to the sector.
Government spending in the social development sector in areas of health, education, housing, women, and children's care, represents 30 per cent of total expenditure.
The government's concern for security, justice and safety sees 23 per cent of the total expenditure allocated to support and enable this sector to perform professionally and proactively.