Sharjah’s AED22 billion budget for 2017 to focus on infrastructure
* Infrastructure represents nearly 31 per cent of the state budget
* Total spending will see an increase from AED20.3 billion in 2016
* 20 per cent of the budget will be allocated towards cultural and educational aspects
Sharjah has approved an increase in infrastructure spending in order to stimulate economic growth in the emirate.
Sheikh Sultan bin Mohammed Al Qasimi, member of the Federal Supreme Council and Ruler of Sharjah, has approved a general budget of AED22 billion, the biggest in its history, the government said in a statement sent to the media on Tuesday.
”The increase in infrastructure spending amounts to 7 per cent more than in 2016,” said Sheikh Mohammed bin Saud Al Qasimi, Chairman of the Central Department of Finance in Sharjah.
Emphasis on infrastructure
Total state spending will see an increase from AED20.3bn originally planned for 2016 budget.
Walid Al Sayegh, Director General of the Central Finance Department of Sharjah said that infrastructure represents nearly 31 per cent of the budget while economic development has been allocated 41 per cent of the total budget.
About 20 per cent of the budget will be allocated towards cultural and educational aspects as the government seeks to maintain its focus on positioning the emirate as the capital of Islamic and Arabic culture and devoting special care to community development and education.
New jobs for Emiratis
The operating revenues of different government departments make up 74 per cent of the emirate’s total revenue base expected for 2017. Capital income represents 17.5 per cent while customs makes 7 per cent.
Oil & gas sector accounts for only 1 per cent and taxes constitute 0.5 per cent of revenue this year.
The government hopes the budget will enable creation of 1800 new jobs in different government departments for Emiratis in 2017.