Half of the proposed $13.4 billion
marked for the UAE Budget 2015 will go towards social development and welfare,
said Prime Minister Sheikh Mohammed bin Rashid al-Maktoum.
Writing on his official Twitter account,
Sheikh Mohammed said the UAE approved a draft federal budget of Dhs49.1 billion
($13.4 billion) for 2015 and the projected federal spending is up from Dhs46
billion in the original budget for 2014.
The UAE federal budget accounts for only
around 14 per cent of overall fiscal spending in the UAE. The UAE does not
publish its consolidated fiscal data on a regular basis. The International
Monetary Fund forecast this month that the UAE’s consolidated government
spending would ease to Dhs349.2 billion in 2014 from an estimated record
Dhs354.5 billion in 2013.
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