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Dubai Approves Budget of (AED 181bn) to be allocated to Construction Projects 2022 - 2024


 In his capacity as Ruler of Dubai, HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, has approved the Government of Dubai’s general budget for the fiscal cycle of 2022-2024, with a total expenditure of $49bn (AED181bn).

The Ruler of Dubai also approved Law No. (28) for the General Budget for the fiscal Year 2022, allocating a $16.32bn (AED59.95bn) expenditure, a report by UAE’s state-run news agency Wam confirmed.

The budget cycle will support Dubai’s efforts to stimulate the macroeconomy and the objectives of the Dubai Strategic Plan 2030. The new general budget reflects the emirate’s determination to accelerate post-pandemic economic recovery and achieve the leadership’s broader goals to stimulate entrepreneurship, enhance society’s happiness and consolidate Dubai’s position as a land of opportunities and innovation.

The government has allocated an amount of $1.42bn (AED5.2bn) for construction projects, despite the completion of Expo-related projects, the activation of the Public-Private Partnership Law and the development of project financing mechanisms in the Dubai government through long-term financing.

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