The Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, has signed the Public Budget Law for the year 2019, with infrastructure accounting for $2.5 billion out of a total expenditure of $20 billion.
In a statement published on WAM, the Dubai government said that: “Despite the completion of some infrastructure projects related to Expo 2020 Dubai, the 2019 budget has dedicated $2.5 billion for infrastructure projects, which caters to the need to develop and upgrade the infrastructure of Dubai and make it one of the most preferred destinations for business and entrepreneurship in the world in line with the leaderships directives.”
“The Government of Dubai has dedicated $2.5 billion to prepare for future commitments, as well as support the completion of some projects, the activation of the Public Private Partnership Law and the development of project financing mechanisms through long term financing.”
In 2019, Dubai will continue supporting social services, including health, education and housing, as well as developing the Social Benefits Fund and supporting families, with the aim of making Dubai one of the most livable cities in the world, added the WAM statement.
“Dubai is committed to the continued development of its budget performance over the next few years to ensure financial sustainability and encourage entrepreneurship in the emirate through economic incentives that will contribute to attracting more investments,” said Abdulrahman Saleh Al Saleh, director general of the Government of Dubai’s Department of Finance, DOF. “The Government of Dubai will continue to improve its competitive edge and achieve the targets of Dubai Plan 2021, and work to amaze the world with the best Expo ever in history.”
