Seychelles National Assembly Presents Budget?

Dubai: The draft UAE federal budget for the year 2015, which is a part of the Dh140 billion for 2014-2016 three-year budget announced last year, has placed maximum emphasis on social development, health and education.

“Health, education and social services sectors take priority in the federal budget expenditure for 2015,” His

Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai said.

The draft federal budget has a total allocation of Dh49.1 billion which is 6.3 per cent higher than Dh46.2 billion allocated in 2014 budget.

Social services projects have been allocated Dh24 billion from the budget, accounting for 49 per cent of the budget.

“Investing in UAE citizens and meeting their needs is the cornerstone of government policies, and is at the forefront of priorities of the National Agenda, which aims to achieve UAE Vision 2021,” Shaikh Mohammad said.

“As such, priority in the federal budget allocations for 2015 will be [given to] social services, education and health sector and improvement of government services. This is in line with the vision of [President His Highness] Shaikh Khalifa [Bin Zayed Al Nahyan] to provide security, prosperity and a good life for Emiratis.”

A total of Dh20 billion, representing 41 per cent of the budget, has been allocated for government. Infrastructure has an allocation of Dh1.8 billion (3.7 per cent), while Dh1.6 billion (3.2 per cent) has been allocated for financial assets, while Dh1 billion has been allocated for federal expenditures, accounting for 2.1 per cent of the budget.

Shaikh Mohammad said that the directives of President His Highness Shaikh Khalifa Bin Zayed Al Nahyan stress the need to harness and invest all available resources to ensure the happiness and welfare of the people in all fields, and moving forward to enhance the UAE’s reputation and status.

The allocations are also in line with projects and initiatives that have been approved as part of the federal government strategy for 2015.

An official from the Ministry of Finance lauded the budget approved by the UAE cabinet on Sunday. Younis Al Khouri, undersecretary in the ministry, said it supports the UAE vision 2021.

“It is a very good budget that took into account the welfare of people in all fields. All the sectors have been covered, including health care, education and social services. The directives of the UAE President His Highness Shaikh Khalifa Bin Zayed Al Nahyan have been well incorporated in the budget.”

He added that the allocations are in line with projects and initiatives that have been approved as part of the federal government strategy 2015.

“The budget took into account various aspects like social and education sector, improvement of government services and infrastructure projects. [A] considerable amount of money was allocated to [the] Shaikh Zayed housing project. It is a balanced budget. This is part of a cycle that will end in 2016.”

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