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Mon 9 Feb 2015 11:48 AM

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Sharjah sets $17.7bn budget, its biggest ever

Almost a third of that will be spent on infrastructure works in the emirate, which is the second largest in the UAE

Sharjah sets $17.7bn budget, its biggest ever

Sharjah has approved its biggest budget ever, with $17.7 billion set aside for spending on public projects.

Almost a third of that will be spent on infrastructure works in the emirate, the second largest in the UAE.

The budget is considerably larger than that set for 2014 and will help create 1,000 jobs for Emiratis, despite increasing operational expenses due to a 28 percent rise in salary and wage allocation.

This budget aims to promote the economy of the emirate, enhance its global reputation and secure the financial stability of the emirate.

The economic development sector had the lion's share of 45 percent in total budget for fiscal year 2015 - reflecting an increase of 4 percent compared to last year. About 34 percent of the budget has been earmarked for infrastructure development, constituting an increase of one percent year-on-year.

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