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Dubai-Next 3 year

Dubai ruler approves 3-year budget, with on transportation, infrastructure in 2022.

said His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai"Budget includes expenditure of AED59.95bn for 2022, and the new budget will boost Dubai’s efforts to stimulate the macro economy "
 

Dubai's general budget for the fiscal cycle of 2022-2024, which reflects the fundamental strengths and stable base of the emirate's economy, supports the realisation of its future economic aspirations, in addition to placing the emirate at the forefront of worldwide efforts to promote recovery.
 
 "The Dubai government continues to consolidate the emirate's position as a leading global commercial hub and raise its international competitiveness by creating new growth opportunities for vital sectors"
 said:Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council
 
Revenues for 2022 are expected to be AED57.5bn, and by 2023, revenues are set to climb to approximately AED59bn, while expenditure will climb to just over AED60bn.
 
 
The government said"Oil revenues account for six per cent of the total projected revenues for the fiscal year 2022, which creates the conditions for enhanced financial sustainability. Non-tax revenues, which come from fees, account for 57 per cent of the total expected revenues. Tax revenues account for 31 per cent, and government investment represents six per cent of the total expected revenues" 
 

 By 2024, expenditure and revenue are expected to equalise at AED61bn. The budget was passed as the city continues to recover from the economic fallout from the Covid-19 pandemic


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