ABU DHABI 1 October 2018: A zero-deficit federal budget of Dh180 billion for the next three years (2019-2021) was approved yesterday by the UAE cabinet chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.
The session was attended by Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior, and Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, said Wam.
Sheikh Mohammed tweeted: “Fifty-nine per cent of the budget will go to education and social development”.
The 2019 budget was approved at a total value of Dh60.3 billion, allocated to various sectors with a focus on those directly linked to citizens’ well-being, health, and education. The budget includes 42.3 per cent for community development, 17 percent for education development, and 7.3 percent for healthcare services.
During the Cabinet meeting, a new federal law was adopted to regulate the space and advanced technology sectors in the UAE. Sheikh Mohammed tweeted, “The goal is to open up the space sector to investment, research and partnership building.”
“It was a coincidence to adopt a large federal budget with the new law for space sector. Both will take the Emirates to new heights,” he added.