Gulf Construction Online - Infrastructure to get 33pc of Sharjah budget

UAE Focus

HH Dr Sheikh Sultan bin Mohammed Al Qasimi

Infrastructure to get 33pc of Sharjah budget

01 February 2020

The UAE emirate of Sharjah has placed a major focus on infrastructure in its 2020 budget, which targets a two per cent increase in spending to Dh29.1 billion ($7.92 billion), compared to the 2019 budget.

The approved budget will see an increase in expenses across several sectors including infrastructure, social programmes, economic activities, culture and education among others, said HH Dr Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah.

Approximately 33 per cent of the general budget is allocated to infrastructure development in the emirate, a growth of 10 per cent over the 2019 budget. Around 36 per cent of the budget is set aside for economic development, with an increased focus on spurring economic growth.

About 24 per cent of the budget is earmarked for social development, a one per cent increase over the 2019 budget.

Chairman of the Sharjah Finance Department Sheikh Mohamed bin Saud Al Qasimi said: “The general budget for this year is considered the largest in the history of the emirate. Stimulating economic growth lies at the heart of this year’s budget as a strategic priority to enhance Sharjah’s economic appeal regionally and globally. The aim is to ensure financial stability and improve the emirate’s competitiveness by providing a business-friendly environment for local and international investors, and help in the growth of the tourism sector across various fields, including cultural, historical, therapeutic, and recreational tourism.

Capital projects accounted for 23 per cent of the total budget with a view to strengthening infrastructure, including the development and improvement of road network, tunnels, and other primary facilities. The revenues of independent entities are set to grow by one per cent in 2020 compared to 2019.