São Paulo – The government of Dubai announced its biggest ever budget for 2020. Gulf News website reported last Sunday (29) that the emirate will have a budget of AED 66.4 billion (USD 18.1 billion) next year from AED 56.28 billion (USD 15.3 billion) in 2019.
As per Gulf News, Mohammad Bin Rashid Al Maktoum, vice-president and prime minister of the United Arab Emirates and ruler of Dubai, has approved the 2020 budget along with a three-year AED 196 billion (USD 53.3 billion) 3-year budget for the 2020-2022 period.
The total budget outlay for 2020 is higher by 16.9% compared to the previous year. This comes as part of supporting the Dubai Plan 2021 and the Expo 2020 Dubai. Dubai Plan 2021 is a strategic plan to transform Dubai into a worldwide leading smart city by encouraging the use of innovative technology and digital tools. Expo 2020 is a world exhibition to run from next October to April 2021 in the emirate.
The government said that, while the budget seeks to stimulate the economy and support the organization of the Expo 2020 Dubai, it also supports social services, including health, education and housing, and aims at making Dubai one of the most livable cities in the world.
“We are capable of achieving an operating surplus of AED 1.96 billion (USD 533.3 million) due to the adoption of disciplined financial policies, which contributes to the development of infrastructure programs for the emirate and affirms the financial sustainability policy pursued by the emirate,” said Abdulrahman Saleh Al Saleh, director general of the Government of Dubai’s Department of Finance.
Translated by Guilherme Miranda
