Sheikh Mohammed Approves Largest Budget in Dubai's History for 2026–2028
Record-breaking Dh302.7 billion expenditure aims to accelerate Dubai’s economic growth and global competitiveness
Dubai has approved the largest government budget in its history, marking a major milestone in the emirate’s long-term economic strategy. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, approved both the Government of Dubai’s general budget cycle for 2026–2028 and the general budget for the fiscal year 2026.
The three-year budget cycle carries total approved expenditures of Dh302.7 billion and projected revenues of Dh329.2 billion, making it the biggest financial framework Dubai has ever implemented.
A Roadmap for Economic Expansion
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence, and Chairman of The Executive Council of Dubai, said: “Dubai’s general budget cycle for 2026–2028 provides a financial roadmap that accelerates Dubai’s ambitions to enhance the growth of its key sectors and solidify its position as a global economic centre.”
Doubling Dubai’s GDP
Sheikh Hamdan emphasized the strategic goals behind the financial plan, noting: “This budget reflects the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum to advance the emirate’s strategic objectives, most notably doubling Dubai’s GDP and positioning it among the world’s top three urban economies within the next decade, while maintaining a balanced approach between ambitious growth and economic stability, supported by prudent fiscal policies.”
He added that “The budget reinforces our commitment to future-focused sectors and ushers in a new phase of knowledge-driven, innovation-led growth in the digital economy. It expands opportunities for local entrepreneurship and supports a high-growth environment across all key sectors. The fiscal sustainability and competitiveness reflected in this budget further enhance Dubai’s appeal to global investors and innovators, laying a strong foundation for the emirate to realise its long-term aspirations and build a prosperous future.”
Investment in Innovation and Emerging Sectors
The 2026–2028 financial cycle highlights Dubai’s focus on future-ready industries, with strategic allocations for space research, digital transformation, and artificial intelligence. The budget aims to foster entrepreneurship, strengthen economic diversification, and position Dubai as a global leader in innovation.
With this record-breaking financial commitment, Dubai signals a decisive push toward sustained economic expansion, global competitiveness, and a transformative decade ahead.