The UAE announced the federal budget for 2020 and will increase by a total of 2 per cent compared to the budget for 2019.
The general federal budget for 2019 was the country’s largest budget ever at a total Dhs 60.3 billion, which itself was 17.3 per cent higher than that for 2018. Of the total budget for 2020, 7.3 pr cent will go towards health sector and 17 per cent towards education.
The UAE’s Financial and Economic Committee reviewed cash flows, including income generated during the current financial year, as well as the projected revenue for the remainder of the fiscal year 2019, to update the financial statements of the federal authorities.
Government news agency WAM reported, “The financial reports confirmed that the liquidity of cash flows is managed according to the disbursement plan of the general federal budget, and to meet the needs of all federal entities to finance their projects, and accomplish their programmes and strategic objectives.”