UAE boosts public spending by 15pc
Dubai, February 24, 2014
The UAE government plans to increase public expenditure by 15 per cent to Dh140 billion ($38 billion) during the period from 2014 to 2016 in line with its strategy to provide better services to the citizens, said a report.
The increase reflects the strength of UAE's economy and its ability to continue growing amid preparedness and ability of the federal government to provide better services to the citizens and residents alike, reported the Emirati news agency WAM.
The Ministry of Finance seeks to continue the allocation of funds to the ministries and autonomous federal agencies in order to implement the strategy of the federal government, the report added.
"The federal government strategy aims at achieving more welfare and prosperity for Emiratis through enhancement of government services, boosting of security and safety, development of education, upgrading of healthcare services, provision of housing and sponsoring of special categories in line with the directives of wise leadership to provide decent living conditions for the pensioned civil and military personnel," remarked Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance.
Sheikh Hamdan said the general budget for 2014, the first year budget in the third session plan of 2014- 2014 budget, stood at about Dh46.2 billion with an increase of Dh1.6 billion compared to the last year, said the report.
The volume of the federal general budget combined for the financial year 2014 stood at Dh52.5 billion, it added.