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Mon 22 Feb 2016 01:59 PM

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Sharjah approves gov't budget of $5.52bn for 2016

Emirate's budget includes 2% rise in spending; says 2,500 new jobs will be created

Sharjah approves gov't budget of $5.52bn for 2016

Sharjah has approved its government budget for 2016 which includes a two percent rise in spending to AED20.3 billion ($5.52 billion).

Six percent of the budget has been allocated for assistance and support, and 2,500 new jobs have been created for citizens in various government agencies, a statement said.

It added that 46 percent of the budget has been put aside to develop the economy while 26 percent will be used to pay salaries.

Another one percent of the budget has been allocated as a reserve for emergency requirements.

The levels of expenditure on infrastructure projects are to be maintained, the statement said.

It added: "The current general budget focuses on many strategic objectives and indicators of the economic, social, scientific and cultural fields in the emirate of Sharjah. This includes the promotion of investment in a national workforce and resources, and a larger role for them in the construction process, as well as the achievement of sustainable development."

Waleed Al Sayegh, director general of the Finance Department of the Government of Sharjah, said: "The revenue's increase of eight percent shows Sharjah's strategic approach to diversifying resources. The general budget has taken into consideration changes in the world economic climate and shows the capabilities of Sharjah to move forward and to achieve sustainable growth."

He said the budget pays attention to cultural and educational aspects, as the emirate of Sharjah is considered the capital of Islamic and Arab culture and devotes great care to community development and education.

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