Sheikh Mohammed approves a budget of Dh61.354 billion for 2020. It is the largest budget throughout the history of the UAE.
Nearly 31 percent of this budget is for social development with the goal of providing a decent life for the residents. Also, it is aimed to achieve the goals of Vision 2021 as well as the UAE Centennial 2071.
According to Sheikh Mohammed, the year 2020 is supposed to be the beginning of a new and quickly developing decade. This is because the federal budget is balanced and it shows national priorities.
14 per cent of the budget is allocated to infrastructure and economic resources, 32 percent to government affairs, and 6.5 per cent to social benefits.
The amount of budget for 2020 has been increased more than 300 times since the first budget amount in 1971. This is the sign of the country’s abundant resources and also strength of the UAE’s economy.
Dh10.4 billion, or 14.8 per cent of the budget is allocated to higher education and university programs.
Healthcare and disease prevention make up 6.9 per cent of the total budget that is about Dh4.9 billion.
The amount of budget for the social rights programmes of the Ministry of Community Development is Dh3.5 billion, or five per cent of the total. Besides, Dh1.8 billion, or 2.5 per cent of the total amount is allocated to the Sheikh Zayed Housing Programme. This program is aimed to provide support for housing for Emiratis.
Social benefit allocations, especially to pensions, form Dh4.6 billion or 6.5 per cent of the total budget. This is aimed to offer decent life to senior citizens that include military veterans and civilians. However, other services account for Dh1.6 billion.
32.6 per cent of the total budget amounting to Dh23 billion goes for government affairs, while 14 percent, or Dh9.9 billion is considered for infrastructure and economic affairs. In addition, Dh21.9 billion, or 31.1 per cent of total amount of budget is allocated to social development programs.
Dh4.6 billion, or 6.5 per cent of the total is allocated to social benefits, and Dh7.8 billion is allocated to other federal expenses, forming 11.1 per cent.
It is interesting to note that The Emirati Space sector is the largest in the Middle East in terms of diversity, size and foreign direct investment, FDI. This sector is one of the fastest-growing ones in the country that has clear plans for the future.
The UAE plans to launch research satellites, including Ain Al Saqr Surveillance Satellite and the Hope Probe before 2021. However, it should be said that this country owns and operates eight major communication and space surveillance satellites currently.
The investment of the UAE is space is about Dh22 billion with a growth rate of nine percent annually.
*The information brought in this article is based on the recent report of Khaleej Times website.