Federal budget 2020: UAE allocates 14 per cent to infra and economic resources

Federal budgetThe UAE has approved a zero-deficit federal budget of US$16.6bn (AED61.354bn), its highest ever, for 2020 fiscal year

According to state-run WAM news agency, the budget is distributed to various sectors related emirati citizens and services, with 31 per cent being allocated to social development, 14 per cent to infrastructure and economic resources, 6.5 per cent to social benefits, and 32.6 per cent to government affairs.

For 2019 fiscal year, the UAE has allocated a zero deficit US$16.4bn (AED60.3bn) budget.

"The year 2020 will be the start of a new and rapidly developing decade. The federal budget is balanced and reflects our national priorities," said His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE, and Ruler of Dubai, while approving the budget during the cabinet meeting at the Presidential Palace in Abu Dhabi, reported the news agency.

The cabinet approved the establishment of the Emirates Council for Climate Change and Environment to be chaired by the minister of Climate Change and Environment with government agencies and representatives of the private sector being its members.

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