FOCUS ON EDUCATION AND HEALTH IN BUDGET
Prime Minister unveils five-year budget
The UAE’s federal budget has been announced for the next five years, with a substantial amount of the quarter of a trillion dirhams to be spent on education.
HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said that the federal government, led by the UAE President HH Khalifa bin Zayed Al Nahyan, continues to achieve the happiness of its people and to ensure security and a decent life for them, state news agency WAM reported.
Sheikh Mohammed said: “Utilising the financial resources to achieve the highest degree of prosperity and welfare of the citizens and residents is a priority, underlining education, health and community welfare as key pillars for the development of the society.”
The cabinet adopted the general federal budget for 2017-2021, with total of Dhs248 billion over five years and a budget of Dhs48.7 billion for 2017.
A fifth of 2017’s Dhs48.7 billion budget has been allocated to education with 10.2 billion to be invested in the sector. According to the cabinet, the majority of the budget has been allocated to sectors that are related to social services including healthcare and protection of society, which has been allotted 8.6 per cent of the budget or Dhs4.2 billion.
Dhs4 billion, or 8.2 per cent of the budget, will go to pensions, while community devel- opment and housing have been allocated Dhs3.2 billion and Dhs1.6 billion respectively.
Forty-two per cent of the total budget, valued at Dhs20.7 billion, has been allotted to the government affairs sector to manage its financial affairs and provide services to citizens.
POWER AND WATER
Federal projects have been allocated Dhs3.3 billion from the budget, of which Dhs891 million will be used for projects of the federal ministries. Power and water project developments in the country which will be implemented by the Federal Authority for Electricity and Water will receive Dhs771 million.
HOUSING AND SCIENCE
Dhs1.4 billion from the total will go into projects under the Sheikh Zayed Housing Programme, while Dhs13.5 million will be allotted for projects of the Ministry of Education. A total of Dhs215 million will be spent on building more police and civil defence centres, headquarters of naturalisation and residence, and scientific laboratories.
SCIENCE AND INNOVATION
Dhs2 billion has been set aside to support innovation, through the establishment of the Sheikh Mohammed bin Rashid Al Maktoum Fund to Finance Innovation.