Sharjah has approved a record $5.99 billion budget for this year as the emirate increases infrastructure spending to fuel growth.
January 03, 2017
Spending on infrastructure will increase by 7% from last year and represent 30% of the budget, said Sheikh Mohammed bin Saud Al Qasimi, Chairman of the central department of finance in Sharjah, The National has reported.
Government expenditure this year will be 3% higher than in 2016, while government revenue will rise 7% compared with 2016. The report did not say whether Sharjah will post a deficit or a surplus.
Waleed Al Sayegh, Director-general of the Central Department of Finance in Sharjah, said the budget focused on economic development, which accounted for 41% of the total budget.