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Home » Revealed: Where and how the UAE will spend its 2021 budget – News
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Revealed: Where and how the UAE will spend its 2021 budget – News

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The UAE Cabinet approved the Federal Budget of Dh58.1 billion on Sunday.

The UAE will spend the largest chunk of its Dh58.1 billion budget approved by the Cabinet on Sunday, for social development and social benefits of the country, followed by government affairs and federal projects.

“The Federal Budget for the fiscal year 2021 was in accordance with the best international standards and applied the latest electronic systems, to improve expenditure efficiency and direct spending towards strategically important sectors. That, in addition to enhancing government entities’ ability to implement and achieve their goals and programmes with the required efficiency,” said Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance.

The UAE Cabinet approved the Federal Budget of Dh58.1 billion on Sunday, for the fiscal year 2021, which is the last year of the five-year plan (2017-2021). The approval came after the announcement of the new structure of the federal government, which included merging ministries and entities and changing powers and responsibilities.

Sheikh Hamdan noted that the main objectives of developing the Federal Budget and preparing it in the form of periodic plans are to improve the level of social services provided; focus on upgrading smart government services and increasing the level of customer satisfaction; and highlight the efforts of the federal government to provide welfare, prosperity, happiness and security for all community members.

Allocations of the Federal Budget for the fiscal year 2021 were distributed among the various sectors as follows:

First: Social development and social benefits

>Dh26.04 billion, or 42.6 per cent of the budget, was allocated to social development and social benefits sectors

>Dh9.6 billion (15.7 per cent) was allocated to public, higher and university education programmes

>From the aforementioned 9.6 billion, Dh6.2 billion (10.2 per cent of the budget) was allocated to public education programmes, and Dh3.4 billion (5.5 per cent of the budget) was allocated to higher and university education programmes

>Dh4.97 billion (8.1 per cent of the budget) was allocated to healthcare and disease prevention, in order to provide the best healthcare to citizens and residents. Also allocated were all the necessary funds to mitigate the Covid-19 pandemic

>Dh3.4 billion (5.6 per cent of the budget) was allocated to social rights and activating community integration. This is to ensure the country’s sponsorship of those who deserve support and to provide subsidies to special groups in need of care

>Dh4.6 billion (7.6 per cent of the budget) was allocated to social welfare programmes directed to military veterans and civilians’ pensions

Second: Government affairs

>Dh21.3 billion (34.8 per cent of the budget) was allocated to government affairs, to provide the latest services and achieve justice for all community members

>Dh4.5 billion (7.4 per cent of the budget) was allocated to infrastructure and economic resources

>Dh19.3 billion (31.6 per cent of the budget) was allocated to social development

>Dh4.6 billion (7.6 per cent of the budget) was allocated to social welfare programmes

>Dh7.7 billion (12.7 per cent of the budget) was allocated to other federal expenses

>Dh3.1 billion (5 per cent of the budget) was allocated to financial assets and investments

>Dh529 million was allocated to other services

Third: Federal Projects

>Dh3.93 billion was allocated to federal projects, and was distributed as follows:

>The Federal Budget for the fiscal year 2021 included allocations to financing the federal government’s share of establishing the UAE railway network at an amount of Dh1.4 billion.

>Dh126 million was allocated to the UAE Space Agency

>Dh963 million was allocated to infrastructure development projects.

waheedabbas@khaleejtimes.com





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