Sheikh Mohammed bin Rashid Al Maktoum gave his stamp of approval on the government of Dubai’s budget proposal yesterday, granting AED 60b in expenditures for 2022 and a total of AED 181b in expenditures for 2022-2024.
In a tweet, Sheikh Hamdan stated that the “Dubai government will continue to promote the emirate's position as a global economic center, enhance its competitiveness and meet our future aspirations by leading global economic recovery efforts in the next stage.”
The ever fiscally-responsible Dubai is expected to bring in public revenues of AED 57.5b this year, just slightly less than it's planning to spend. In addition, 6% of Dubai’s budget this year will be put towards paying down its public debt.
Why it matters
The lion's share (42%) of Dubai's 2022 budget will be put towards developing the emirate's infrastructure and transportation sector. The second-largest allocation (30%) of the budget will be spent on social development in areas like health, education, housing, women, and children's care.
