Emirate set for $15 billion outlay in 2019
The Emirate of Dubai has unveiled $15.4 billion budget for 2019, with a hefty chunk of the figure to be invested in infrastructure projects for Expo 2020.
2019 sees the largest budget in Dubai’s history, marking a 19.5% year-on-year increase in overall spending.
Abdulrahman Saleh Al Saleh, Director-General, Dubai Government's Department of Finance, said: "Over the coming years, the Dubai government actively seeks to improve public budget performance continuously, in order to achieve financial sustainability, fulfil the emirate's commitments, and realise the strategic objectives of Dubai 2021 Plan."
The budget for the fiscal 2019 comes in line with Dubai's future commitments, notably Expo 2020.
The budget features a rise in infrastructure spending, which makes up 21% of the total government expenditure.
This reflects the directives of Sheikh Mohammed to raise infrastructure efficiency in Dubai in order for the emirate to become the preferred destination for living, tourism, and businesses across all sectors.
Al Saleh added: "Expo 2020 presents challenges that require us to focus on availing construction expenses needed for the mega infrastructure projects related to Expo 2020.
“Such projects will only benefit the success of the huge international Expo upon launching in three years, but is also expected to serve the emirate for decades to come, especially in light of Dubai's noticeable urban expansion towards the Expo project area."
The budget is expected to offer more than 3,100 jobs, with salaries and wages amounting to 30% of the total government spending in 2018.
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