AED290 Billion Approved for UAE's General Budget for Next 5 Years

The UAE cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai, approved the UAE General Budget for the years 2022- 2026, with total expenditures of AED290 billion and the UAE General Budget for the year 2022, with AED58.931 billion expenditures.

The cabinet also approved the new government strategic approach that serves as a framework to lay the foundations of work for the next 50 years. 

During the cabinet meeting, the UAE General Budget for the years 2022- 2026 was also approved, with AED290 billion expenditures. The budget for the year 2022 was also approved, with AED58.931 billion expenditures.

The largest share of the 2022 budget was allocated to the development and social benefits sector at 41.2%, out of them 16.3% for education, 6% for social development, 8.4% for health, 8.2% for pensions and 2.6% for other services.

Some 3.8% of the budget has been allocated to the infrastructure and financial resources sector.

The cabinet approved the dissemination of cybersecurity standards developed by the UAE Cybersecurity Council. The standards aim at developing a comprehensive cybersecurity strategy and creating a safe and strong cyber infrastructure in the UAE.

The cabinet approved amending the Federal Law regarding the Imposition of a Federal Tax on the Imports of Tobacco and its Derivatives.