Sharjah’s ruler approved a budget with total expenses of almost $7 billion (AED 25.7bn) for 2019, a ten percent increase on last year.
Sheikh Dr Sultan bin Muhammad Al Qasimi, ruler of Sharjah, approved a budget that will focus on public safety as well as on capital improvement programmes.
The government announced that infrastructure will take precedence, as well as social support, which will come in a variety of forms, ensuring that the needs of all its citizens are adequately accounted for.
The budget also includes healthy provisions for economic, social, scientific and cultural fields, which are aligned with Sharjah’s strategic objectives.
“The 2019 budget will ensure that the emirate of Sharjah continues to grow and develop for it to become a major player on the world economic map,” said Sheikh Mohammed bin Saud Al Qassimi, chairman of the Sharjah Central Finance Department.
“It will also ensure the financial stability of the emirate while taking into account the business costs for both local and international investors.
“The budget indicators are all in line with international standards from inflation and sector expenditure as well as other economic indicators. We have also developed a more strategic expenditure framework within governmental departments,” he added.
The major proposed items of the budget include:
• Salaries to account for 43 per cent of the current budget.
• 23 per cent of the budget goes to the development and improvement of Sharjah infrastructure.
• 41 per cent of the budget is allocated to the economic development sector.
• 22 per cent of the budget is allocated to the social development sector.
• Capital projects amount to approximately 22 per cent of the total budget of the government.
• 600 jobs for citizens.
• Government revenues will witness a growth rate of 20 per cent in 2019.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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