UAE hikes federal budget spending by 21%
Posted on 21 October 2008 with no comments from readersWAM Abu Dhabi, Oct. 21, 2008 (WAM) The UAE cabinet, during an extraordinary meeting today, approved an amount of AED42.2 billion as annual budget for 2009. The amount represents an increase of 21 per cent to the 2008 budget. The education and services sectors have been allocated 23% and 37% respectively of this year’s budget to reflect the great priority the government gives to those sectors, particularly the health sector.
Vice President and Prime Minister of UAE and Ruler of Dubai, H.H. Sheikh Mohammed bin Rashid Al Maktoum, who presided over the cabinet meeting at the Presidential Palace here, and attended by Deputy Prime Minister, H.H. Sheikh Sultan bin Zayed Al Nahyan and Deputy Prime Minister, Sheikh Hamdan bin Zayed Al Nahyan, listened to the reading of the budget report, which contains details of the budget, including the revenue, the expenditure and the rate of increase in the 2008 revenue, compared to the previous years.
The report also contains the annual growth rate of both the incomes and expenditures for the last ten years. The report show that incomes of ministries will grow in 2009 to about AED24 million, up from the AED7 million recorded in 1999. The figure represents a rise of 25.6%.
Sheikh Mohammed expressed satisfaction with the early reading of the budget and attributed the success to the concerted efforts of all the ministries and the task forces, which, the UAE prime minister said, worked as one formidable team, to achieve such a great success in a relatively short time.
The Vice President urged all ministers to strive to improve the performance of their respective ministries to meet the challenges of modern time to enable the UAE maintain its status as a nation of institutions, rule of law and excellence.
He also urged his cabinet members to remain persistent and not to direct the affairs of their ministries from behind their office desks but to personally follow up issues on the field to enable them repair on time any mistake related to the supreme national interest of our dear nation and people.
© WAM (Emirates News Agency) 2008
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