UAE Approves Four-Year Federal Budget Focused on Social Spending
Published 12 Oct,2021 via Bloomberg Markets - The United Arab Emirates approved its federal budget to 2026 and focused most of next year’s spending on social benefits and development.
The Gulf country approved a total of 58.9 billion dirhams ($16 billion) of spending in 2022, nearly the same as last year. Most of the spending is going to development and social benefits, according to the state-run WAM news agency. Nearly 16% will go to higher education, 6% to social affairs, 8.4% to the health sector and 3.8% to infrastructure and economic resources.
The total budget allocation for 2022-2026 is 290 billion dirhams. The decisions came during a cabinet session held at Expo2020, the $7 billion global exhibition that opened last month in Dubai.
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