The UAE federal Government plans to spend Dh44.6 billion next year, under a budget approved today, Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE said.
UAE federal Government to spend Dh44.6bn next year
The UAE federal Government plans to spend Dh44.6 billion (US$12.14bn) next year, under a budget approved today, said Sheikh Mohammed bin Rashid, Vice President of the UAE and Ruler of Dubai.
No deficit would be posted in the budget, Sheikh Mohammed wrote on his official Twitter account.
"Chaired Cabinet meeting where we approved the federal budget for 2013 with total spending [of] Dh44.6bn and no deficit," wrote Sheikh Mohammed.
"The budget is part of a three-year government financial plan with total spending of Dh133bn in order to implement our strategic plans."
The federal budget accounts for only 11 per cent of total public spending in the UAE, with larger chunks coming from the governments of Abu Dhabi, Dubai and other emirates.
Social development will account for more than half of spending, followed by education and water and electricity as the next biggest expenditure areas.
"Priorities for the 2013 budget will be health, education and social benefits for citizens as well as the improvement of government services," wrote Sheikh Mohammed.