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Economy

UAE approves AED 180 billion budget for 2019 with no deficit

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Monday 01, October 2018 BY KUDAKWASHE MUZORIWA

The cabinet also approved a budget of AED 60.3 billion for 2019, an 18 per cent increase compared to last year.

The UAE cabinet has approved a zero-deficit federal budget of AED 180 billion for the next three years, according to local newswire, WAM.

In a tweet, HH Sheikh Mohammed bin Rashid Al Maktoum, the Vice President, Prime Minister and Ruler of Dubai, said that fifty-nine per cent of the budget will go to education and social development.

Additionally, the UAE 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.

The budget includes 42.3 per cent for community development, 17 per cent for education development and 7.3 per cent for healthcare development.

TAGS : Budget 2019, Zero-deficit, Dubai, UAE

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