SHARJAH, 27th December 2020 (WAM) – H.H. Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, has approved the general budget for the Emirate of Sharjah of AED 33.6 billion for the fiscal year 2021.
According to Sharjah Finance Department (SFD), the budget has increased 12 per cent compared to the final 2020 budget with the aim to achieve the strategic vision of the emirate in economic and social development, enhancing financial sustainability, and stimulating the macroeconomic environment.
Sheikh Mohammed bin Saud Al Qasimi, Chairman of the Sharjah Finance Department, said: “The general budget for this year is the largest in the history of the emirate. The budget of the Emirate has adopted many strategic and financial objectives and priorities, which reflected the high directives of His Highness the Ruler of Sharjah and his comprehensive and renewed vision, as well as the directions of the Executive Council and the strategic vision of the Central Finance Department, which works to achieve the highest levels of financial sustainability and efficiency in managing government financial resources and supporting the capabilities of government agencies”.
Waleed Al Sayegh the Director General of the Finance Department said: “Salaries and wages account for 47 per cent of the total operating budget for 2021, while 43 percent of the general budget is allocated for developing and improving infrastructure in the emirate, with an increase of 40 percent over the 2020 budget”.
“The budget reflected the interest of His Highness, Ruler of Sharjah, to provide social support and assistance to those who deserve it, in pursuit of welfare and social justice, which would constitute 11 percent of the total general budget for 2021” he added.
The budget also witnesses an allocation of 29 percent for developing the economic sector, while 21 per cent on social development to support scientific, cultural and heritage services, as well as stimulating creativity, innovation and scientific research, and ensuring an ideal healthy environment.
The capital projects budget accounts for 32 percent, with an increase of 46 per cent over the 2020 budget to enhance infrastructure and ensure the development and improvement of the transport network, tunnels, tourism facilities and various other service facilities.