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Sheikh Maktoum said that the largest budget in the history of the UAE reiterated that the people of the UAE will always have a decent life as the top priority, and the establishment of a more balanced national economy is the foundation for the overall development of the Federation.
The Cabinet on Tuesday approved a five-year federal budget of 290 billion dirhams, which proves that the UAE government will continue to work hard to ensure the happiness, safety and decent life of its people. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance said.
Sheikh Maktoum said that the largest budget in the history of the UAE reiterated that the people of the UAE will always have a decent life as the top priority, and the establishment of a more balanced national economy is the foundation for the overall development of the Federation.
He pointed out that wise leadership has laid a solid foundation for the government to realize the mission of national strategic goals and support its journey to achieve sustainable economic and social development.
Sheikh Maktoum said that allocating financial resources to achieve development goals is a priority for the country’s wise leadership. He emphasized the importance of investing in talent by continuing to improve the education, health and social development sectors.
The Minister of State for Fiscal Affairs Mohamed Hadi Husseini stated that according to the instructions of the wise leaders, the budget of 58.93 billion dirhams in 2022 aims to improve government services, provide the highest level of social care, health and education services, and support the basics. Facilities to create an attractive development and economic environment.
Al Hussaini emphasized the importance of cooperation between the Ministry of Finance and various federal entities on budgeting procedures.
Sunny Varkey, the founder and executive chairman of GEMS Education Group, said that development-oriented budgets herald the UAE’s huge transformation in the next 50 years of its journey.
“The huge budget allocations for public and university education programs highlight the country’s futuristic goals and the primary task of cultivating a generation facing the future.”
Rizwan Sajan, chairman of the Danube Group, said that although the budget is usually allocated for one year, the UAE has proposed a five-year budget. This unusual move reflects the long-term vision of the UAE government and the seriousness of its realization. “The five-year budget is aligned with the vision-so everything is in line with the country’s core goals and its desire to become the world’s leading knowledge-based economy.”
Kamal Vachani, director and partner of Al Maya Group, said that the five-year budget shows that as the country enters the new 50th federal 50th with confidence, optimism and global ambitions, the UAE’s wise leadership aims to achieve long-term sustainability. increase.
“The largest allocation in the 2022 budget is for the development and social welfare sectors aimed at further enhancing the status of the country.”
Adeeb Ahamed, managing director of Lulu Financial Holdings, welcomed the progressiveness of the federal budget as it focuses on sustainable renewal programs. “The budget is correctly used to accelerate the growth of the strategic sector, which will ultimately provide a quick start to the UAE’s vision of change for the next 50 years.”
— issacjohn@khaleejtimes.com
Isaac John
The editorial director of Khaleej Times is a well-connected Indian journalist and economic and financial commentator. He has worked in mainstream journalism in the UAE for 35 years, including 23 years in Khaleej Times. He is a graduate of English major and a graduate of economics major, and has won more than 20 awards. He is widely praised for his real and insightful analysis of global and regional business and economic trends, and is respected for his keen understanding of local business scenarios.
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