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| Sheikh Mohammed bin Rashid Al Maktoum the Vice President and Prime Minister of United Arab Emirates , and Ruler of the Emirate of Dubai |
UAE Vice President, Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum on Tuesday approved the General Government Budget Law for the fiscal year 2019 with a total expenditure of 56.8 billion dirhams (about $ 15.5 billion).
According to the statement, the Government of Dubai has maintained a budget for the year 2019 equal to the size of the budget announced for the fiscal year ending 2018 and with the decisions of the stimulus adopted by the Emirate in 2018, which affected the revenues of some fees that were reduced in order to stimulate the economic sector of the emirate in incentives that are scheduled to continue until Year 2021.
The statement stressed that Dubai will continue through the budget in 2019 to pay attention to social services from health, education, culture and housing and work on the development of social benefits fund and support and stimulate families, which contributes to make Dubai one of the best cities for living in the world.
The Dubai government expects to generate AED 51 billion in public revenues, an increase of 1.2% over the fiscal year 2018. This increase comes despite the economic stimulus measures taken by the emirate which would reduce some fees and freeze the increase in any fee for 3 years and not impose any new fee from Without providing a new service.
According to the statement, Dubai's revenues depend on the current operations in the emirate, which Dubai has done over the past decade not to rely on oil revenues and to develop the structure of government revenues. Oil revenues account for only 8% of total revenues for fiscal year 2019, .
Non-tax revenues (fees and other) account for 64% of total expected revenues and tax revenues account for 25% while revenues from government investment revenues represent 3%.
The general government budget provided 2,498 new jobs. The salaries and wages allocations accounted for 32% of the total government expenditure. Public and administrative expenses and grant and support expenses accounted for 47% of total government expenditure.
The Government has approved AED 9.2 billion to develop infrastructure projects and equipment for future benefits, in conjunction with the completion of a number of projects, the activation of the Public Private Partnership Law and the development of project finance mechanisms in the Government of Dubai through long-term financing.
For his part, Abdul Rahman Saleh Al Saleh, Director General of the Department of Finance said that the fiscal year 2019 budget supports the decisions of economic and social stimulus and changes in the law of human resources management of the Government of Dubai and raise the level of social benefits.
He added that the Government of Dubai was able to achieve an operating surplus of 850 million dirhams as a result of adopting disciplined fiscal policies.
Source : Emirates today
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