Sharjah Ruler approves AED 40.83 billion budget

His Highness Sheikh Dr. Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah has approved the emirate's general budget of AED 40.832 billion for 2024.

The spending plan is focused on achieving financial sustainability and ensuring social security and sustainability.

The budget, which is the largest in the emirate's history, witnessed an increase in expenditures by 16 per cent compared to 2023.

It supports capital projects by 20 per cent, while 26 per cent goes for wages, operating expenses account for 25 per cent and 12 per cent has been earmarked for support and aid purposes.

Fifteen per cent of the budget goes to repay loans and interest while the capital expenditure is 2 per cent.

Sheikh Sultan said that the new spending plan would empower government departments, allowing them to achieve their goals, facilitating the implementation of various infrastructure and science projects, boosting business and tourism, and achieving food security.

In terms of the budget's distribution on the basis of economic sectors, the infrastructure sector accounts for 40 per cent, about 30 per cent has been allocated for economic development and 21 per cent for social development.

Government administration, security and safety sector account for about 9 per cent.