40.83 Billion Budget Approved by the Sharjah Ruler for 2024

  • Publish date: Tuesday، 02 January 2024
40.83 Billion Budget Approved by the Sharjah Ruler for 2024

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

This financial plan, the largest in Sharjah's history, reflects a notable 16% increase in expenditures compared to 2023, emphasizing financial sustainability and societal well-being.

The budget allocates significant percentages to key areas, with 20% supporting capital projects, 26% dedicated to wages, 25% for operating expenses, and 12% earmarked for support and aid. Repayment of loans and interest claims 15% of the budget, while 2% is directed towards capital expenditure.

Sheikh Sultan emphasized that this robust spending plan aims to empower government departments, facilitating the achievement of goals and the execution of various infrastructure and science projects. Additionally, it seeks to boost business and tourism, fostering food security in the region.

In terms of sector-wise distribution, the infrastructure sector receives 40%, economic development is allocated 30%, and social development claims 21%. Government administration, security, and safety sectors collectively account for around 9% of the budget.

Overall, Sheikh Sultan envisions this budget as a catalyst for progress, supporting the implementation of vital projects and contributing to the holistic development of Sharjah's economy and society.

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