7 November UAE-Shaikh Mohammad Bin Rashid chairs Cabinet meeting at the Sharjah International Book Fair
Sharjah: The UAE Cabinet on Tuesday approved a federal budget of Dh201 billion until 2021, with Dh51 billion allocated for 2018.
The Cabinet meeting was chaired by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, at the Sharjah International Book Fair.
Lieutenant General Shaikh Saif Bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior, and Shaikh Mansour Bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, were present.
The budget sees no deficit with 43 per cent of the budget allocated to health care, education and society development sectors.
The 2018 budget allocated Dh26.3 billion for social development and welfare programmes, accounting for 43.5 per cent of the total budget.
Public and higher education programmes have been allocated Dh10.4 billion, constituting 17.1 per cent of the budget.
Healthcare and community prevention sector received an allocation of Dh4.5 billion, 7.4 per cent of the budget. The government affairs sector was allocated Dh22.1 billion, which makes up 36.5 per cent of the budget, out of which Dh3.5 billion will be used for federal projects.
Speaking during the meeting, Shaikh Mohammad said: “We give top priority to the happiness and welfare of our people, and we will work on the budgets and plans for the best interests of the country, its future and human capital.”
The Cabinet approved the restructuring of the Ministerial Development Council under the chairmanship of Shaikh Mansour, while the Minister of Cabinet Affairs and the Future will serve as Vice Chairman.
“We have restructured the ministerial development council today—the members have new assignments… We have an ever-changing vision, and our people have high aspirations,” said Shaikh Mohammad.
Council’s members include the Ministers of Economy, Health and Prevention, and the Ministers of State for Federal National Council Affairs, for Foreign Affairs, and for Financial Affairs.
The members also include Ministers of Energy and Industry, Education, Infrastructure Development, Justice, Culture and Knowledge Development, Environment and Climate Change, Human Resources and Emiratisation, Community Development, as well as Ministers of State for Public Education, Higher Education and Advanced Skills.
It also approved the Executive Regulations of Federal Law No. 8 of 2017 on Value Added Tax, which will come into force from January 1, 2018.