Dubai Government has approved a budget for 2019 foreseeing expenditure of $15.5 billion (AED56.8bn), a marginal increase on last year, with infrastructure investment for the upcoming Expo 2020 again a focus for the emirate.
Last year’s budget was the largest in the history of the emirate – a 19 percent increase from 2017 – as it increased spending on Expo 2020 Dubai infrastructure. That’s expected to be scaled up even further this year with AED9.2bn allocated from this year’s budget, which is almost double last year’s amount.
Dubai expects to generate $13.8bn (AED 51bn) in public revenues, an increase of 1.2% over the fiscal year 2018.
Non-tax revenues (fees and other) account for 64 percent of total expected revenue. Tax revenues account for 25 percent, while revenues from government investment represent 3 percent.
Abdulrahman Saleh Al Saleh, Director General of DIFC, said Dubai achieved an operating surplus of AED850 million due to the adoption of disciplined fiscal policies.
The budget was approved by Sheikh Mohammed, Ruler of Dubai. More
By Neil Halligan arabianbusiness.com