His Highness Sheikh Dr. Sultan bin Muhammed Al Qasimi, Supreme Council Member and Ruler of Sharjah has given his approval to the emirate's general budget for 2024. The budget is the largest in Sharjah's history at around Dhs 40.832 billion and emphasises financial sustainability, decent living standards, and social security.
The budget aims to empower government departments, facilitate infrastructure and science projects, boost business and tourism, and achieve food security. Priorities include achieving financial sustainability, efficiently managing resources, enhancing competitiveness, and providing government services globally.
The budget emphasises strengthening strategic partnerships with the private sector to advance growth and development.
Here Are Some Key Takeaways From The Budget
- Allocation includes 26% for wages, 25% for operating expenses, 12% for support and aid, 2% for capital expenditure, and 15% for loan repayment.
- The infrastructure sector leads with 40%, economic development follows with 30%, and social development accounts for 21%.
- The 2024 revenue plan reflects a 5% increase from 2023, with operating revenues constituting 71% of the total budget.
- The budget aligns with the government's financial plan for 2023-2030, aiming to control spending, enhance efficiency, and support economic sustainability.