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Sun 30 Sep 2018 02:32 PM

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UAE approves $16.4bn budget for 2019 with no deficit

UAE cabinet also approves three-year budget worth $49bn, with 59 percent going towards education and social development

UAE approves $16.4bn budget for 2019 with no deficit
UAE Prime Minister Sheikh Mohammed chairs the cabinet meeting.

The UAE approved a budget of $16.4bn (AED60.3bn) for 2019, an increase of 18 percent on last year.

Tthe UAE cabinet said 42.3 percent of the budget for the next year was allocated to the community development programmes, 17 percent to the education system and 7.3 percent to develop the health sector and provide medical services.

The UAE also approved a $49 billion (AED180bn) budget for the next three years, with a significant portion amount going towards education and social development.

UAE Prime Minister Sheikh Mohammed said 59% of the three-year budget would be allocated to education and social development.

“Citizens are our top priority. We have allocated the bulk of the budget to ensure its prosperity, health, education and security," he said.

Space sector

The UAE cabinet also approved a Federal Law regulating space sector, which Sheikh Mohammed said would “open the sector for investments, research and cooperation” from the private sector.

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