The UAE Cabinet, chaired by Vice President and Prime Minister Sheikh Mohammed bin Rashid Al Maktoum, has approved a total federal budget of AED 292.5 billion ($80 billion) for 2027–2029—marking a 28.3 percent surge compared to the previous three-year cycle. For the 2027 fiscal year alone, federal expenditure is set at AED 90.1 billion ($24.5 billion), with the largest share directed toward social development and pensions at AED 34.6 billion (38.4 percent), followed by government affairs at AED 29.1 billion (32.3 percent), general federal expenses at AED 17.8 billion (19.7 percent), financial assets at AED 5.6 billion (6.2 percent), and infrastructure at AED 3 billion (3.4 percent). Designed to balance immediate community needs with sustainable, long-term economic growth under President Sheikh Mohamed bin Zayed Al Nahyan's leadership, the multi-year fiscal framework prioritizes education, healthcare, housing, and citizens' quality of life while driving government efficiency and economic diversification into future industries like technology and innovation. (ICE DUBAI)

Fonte notizia: https://www.arabianbusiness.com/