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Abu Dhabi, UAEMonday 22 October 2018

Sheikh Khalifa announces Dh1.97 billion budget increase for UAE

Funds for the fiscal year of 2018 to be allocated from country's general reserves

Sheikh Mohammed bin Zayed meets the President, Sheikh Khalifa, at his summer home in the French town of Evian last month. Wam
Sheikh Mohammed bin Zayed meets the President, Sheikh Khalifa, at his summer home in the French town of Evian last month. Wam

UAE President Sheikh Khalifa bin Zayed has announced a Dh1.97 billion budget increase for the current financial year.

Sheikh Khalifa has issued Federal Decree No.6 of 2018 to allocate the additional funds from the country's general reserves, state news agency Wam has reported.

The decree, which was published in the latest issue of the Federal Gazette, includes an additional budget of Dh21 million for the Office of the Minister of Tolerance, a Dh6.82 million increase for the UAE General Sports Authority, an extra Dh3.917 million for the National Media Council and a Dh3.5 million boost for the Emirates Space Agency.

The injection of funds has been welcomed by one of the leading figures spearheading the UAE's space initiatives.

Shaikha Al Maskari, chief innovation officer at the UAE Space Agency, said the Dh3.5 million outlay will give the agency a wider opportunity to further invest in space projects and is a reflection of the faith shown in their work by the UAE government.

“The boost is a reflection of the trust that the leadership has of the space agency, and all the space projects that are running in the UAE,” she said.

“It showcases the importance of this sector and all space projects, because at the end of the day they serve humanity, and that is the UAE’s goal: to serve humanity.”

“So I see it as a reflection of trust and support.”

She said that space projects are always evolving and the space industry is changing so fast within the country and that therre are "many objectives" for the sector to accomplish.

The budget increase shows that the government sees the space agency as a vital player in the country’s development, she said.

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