ALBAWABA - The UAE Cabinet, led by the Vice President of the UAE and Prime Minister and Ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, has approved the general budget plan for the Union for the years 2024-2026, totaling approximately AED 192 billion.
The general budget for the Union for the fiscal year 2024 has been approved with revenues estimated at around AED 65.728 billion, with a projected growth rate of 3.3% compared to the fiscal year 2023. Expenditures are estimated at about AED 64.060 billion, with a growth rate of approximately 1.6% compared to the fiscal year 2023.
What is the Development Bank? The financial arm of the BRICS group has allocated approximately AED 26.7 billion for the development and social benefits sector, accounting for 42% of the total general budget. Funds allocated for general and university education programs amount to approximately AED 10.2 billion, representing 16% of the total budget. Additionally, AED 5.2 billion has been allocated for healthcare and community protection services, making up 8% of the total general budget, while financial allocations for social affairs reached AED 3.6 billion, accounting for 6% of the total general budget.
The percentage allocated for retirement pensions is about 10% of the total budget, amounting to AED 6.1 billion, and about 2% is allocated for public services.
