Budget increases by 2 percent increase over 2019 budget
HH Dr. Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, announced a budget with total expenses of AED29.1 billion (US$ 7.9bn) for 2020, a 2 percent increase in comparison to its 2019 budget.
The approved budget will see an increase in expenses across several sectors including infrastructure, social programs, economic activities, culture and education among others.
Investing in the Emirate’s infrastructure will be the primary goal this year, besides also focusing on Sharjah’s strategic objectives in the economic, social, scientific and cultural sectors.
Approximately 33% of the general budget is allocated to infrastructure development in the emirate, a growth of 10% over the 2019 budget. Around 36% of the general budget is set aside for economic development, with an increased focused on spurring economic growth.
About 24% of the general budget is earmarked for social development, a 1% increase over the 2019 budget. This budget is dedicated for the support of scientific, cultural and heritage services in order to stimulate creativity, innovation and R&D, to ensure an ideal healthy environment.
Waleed Al Sayegh, Director General of Sharjah Finance Department, said that the 2020 budget provides a practical framework for implementing the directives and priorities of HH The Ruler of Sharjah.
Capital projects accounted for 23% of the total budget with a view of strengthening infrastructure, including the development and improvement of road network, tunnels, and other primary facilities.
The revenues of independent entities are set to grow by 1% in 2020 compared to 2019. Social assistance accounts for 13 % of the 2020 general budget.
