His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister, the shepherds of God, in his capacity as the Ruler of Dubai, his role budget for three years; from 2020 until 2022, with a total expenditure of 196 billion dirhams, continuing to approach the Dubai Government in promoting The total economy of the Emirate.
The budgeting role of the three years came to meet the aspirations of the future, and confirmed Dubai's determination to continue to make the path of happiness happy. Financial Plan highlights the extent of the Government of Dubai's interest by providing the highest degree of stability and economic stimulus to the business sectors in the emirate, giving a clear picture of the economic objectives of the government during the three coming years, supports medium-term planning and economic sectors in the emirate and provides a clear vision of the private sector working in it.
In the same context, His Highness Sheikh Muhammad bin Rashid Rashid Al Maktoum, Law No. (12) for the year 2019 on the balance of Al-Majmal Al-Zamil, adopted Al-Majmal Al-Majed AED 4 billion, to become the largest budget in the history of Dubai, come to meet the aspirations of the emirate in macroeconomic stimulus and support for the establishment of "Expo 2020 Dubai" to be the special session and the most prominent in the history of the world's largest exhibitions and Oargaha.
Dubai continues in the financial budget of the year 2020 attention to social services, which include health, education, culture and social housing, as well as the development of social benefits fund and support families and encourage them, making it one of the best cities to live in the world.
On this occasion, His Excellency Abdul Rahman Saleh Al Saleh, Director General of Finance Dubai Government Department, pointed out that "put the court plans" was the highlight of the commandments of His Highness Sheikh Mohammed bin Rashid Al Maktoum, the ten Government, and the Government of Dubai, represented by the Department of Finance, this inspired The will in launching the budget role 2020-2022, confirming the department's endeavor to continuously develop the performance of the public budget for the sake of The sustainability of finance and work to stimulate entrepreneurship in the emirate, through the enhancement of the incentives of the business sector in Al-Qadam,
The Al-Saleh said that the adoption of the Dubai government approach-term financial planning average for three years and the declaration of a financial plan is the first in its history, in fulfillment of the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, and the directives of HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum came, Crown Prince of Dubai and Chairman executive board .
He added that Dubai is the development of its financial annually, to provide economic with incentives impact in attracting more investment and work to improve the competitiveness center of the emirate, and the implementation of their entitlements and Mstahedvadtha of the Strategic Plan 2021 and beyond, explaining that the general budget of fiscal 2020 adopted a total expenditure exceeding expenses last year by 16 . 9%, in support of the vision of Dubai 2021 and the Expo 2020 Dubai, as well as moving forward in support of the emirate's overall economy.
His Excellency the Director General of the Department of Finance said that the Dubai government could achieve an operational surplus of 1. 96 billion dirhams as a result of the adoption of disciplined financial policies, which contributes to the development of the Emirate's infrastructure programs and affirms the policy of sustainable procurement.
For his part, Arif Abdul Rahman Ahli assured the Executive Director of the Planning Sector and the general budget in the Department of Finance, the fiscal budget of the year 2020 came to meet the requirements of the plan of Dubai 2021 and beyond, saying they reflect the transparency of the financial position stable emirate through the implementation of disciplined fiscal policies based on the best International practices in this regard. He stressed my family that surplus operational is achieving for the Emirate of financial sustainability desired, adding that the Department of Finance "is seeking to develop programs to raise government spending efficiency through the launch of the unified procurement program, and stimulate partnership with the private sector, along with its ongoing quest to develop the budget and review."
Government revenue expected for the fiscal year 2020
It is expected to achieve Dubai Government revenues General of 64 billion dirhams, an increase of 25 percent from fiscal year 2019 despite the economic stimulus decisions taken by the emirate that would have some fees reduced and the freezing of the increase in any fee for a period of three years and not to impose any fee New without new service.
Dependent these revenues on the ongoing operations in the emirate, which have acted Dubai over the past decade in the non-dependence on oil revenues, which represent 6 percent of the total projected revenue for the fiscal year 2020, and to ensure the development of government revenue structure, which would strengthen the financial Emirate of sustainability .
The non-tax revenues, derived from fees, accounted for 60 percent of the total projected revenues, while tax revenues represent 29 percent, revenues of government revenues and investments, representing five percent of the total projected revenue.
Jamal Hamed Al Marri, Executive Director of the Central Accounts in the Department of Finance, confirmed that the department is sparing no effort in establishing the government competitive elements of the Emirate, referring to the continuous keenness to develop programs that advance public finances and achieve financial excellence performance, and added: "The success of Dubai This year in the implementation phase of the implementation of international accounting standards in the public sector, support the China process Ah government decision, and to ensure continuity of government financial efficiency, and improve the quality of financial and comprehensiveness of the reports, in line with the Dubai Strategic Plan 2021, even established its pillar supportive approach to leadership in government work based on efficiency, accountability and creativity, as well as that this development will make Dubai the first government in The region applies the international standards for government accounting, and will have the greatest impact on the implementation of the banana. And develop ways of NH government outstanding performance. "
Expected government expenditures for the fiscal year 2020
And it directs the announcement by the Government of Dubai for the largest budget in its history, and a clear message to the business community that Dubai is pursuing an expansionary fiscal policy, which lends great confidence in the emirate's economy and contributes to attracting more direct investment to them. This budget serves population growth requirements and the benefits of the hosting Expo 2020 and continuous development of infrastructure, and all other objectives contained in the plan of Dubai 2021, aimed at raising the level of welfare of citizens and residents in the emirate and happiness, to meet the guidance of wise leadership.
Formed wages and salaries accounted for 30 percent of total government expenditure, according to the resource requirements of the new Code of human, as expenses accounted for grants and support accounted for 24 percent, to meet the requirements of human development and to provide adequate support to the citizens and government agencies that provide public services to the population of the emirate.
The government approved $ 8 billion dirhams, to keep the volume of investments in infrastructure in line with the ambitions of Dubai that the city should be the preferred global residence, in conjunction with the completion of some projects and activating the partnership law between the public and private sector and the development of mechanisms of financing of projects in the Dubai government through the means of financing Long-term. The percentage of spending on construction projects, 12 percent of government spending, in a sign of continuing infrastructure to host the Expo, which will remain in service after the list of all economic and social sectors in the emirate. Development .
Dubai announced the first time for a special reserve rate of 3 percent of the total projected expenditures, pursuant to the precautionary principle and to prepare for the extension of the Expo, and to achieve the best host in the history of Expo, according to the custom of Dubai in its eagerness to impress the world.
Dubai maintained a debt-servicing ratio that does not exceed 5% of its total expenditures, as a result of following a disciplined financial policy that includes no guarantee.
Sectoral distribution of government expenditures
The budget for the fiscal year 2020 showed the extent of the government's interest in the human being that His Highness Sheikh Muhammad bin Al-Thanh saw. The expenditure on social sector development in the areas of health, education, housing and care of women and children and the adoption of the development of reading and translation initiatives and software preparation and attention to youth and sports to represent 30 percent of total government spending in the budget of 2020.
And embodies the attention of the government security and justice sector and safety by allocating 19 percent of the total spending to support this sector and develop it and make it able to perform its role professionally and proactively so that it became the sectors that boasted globally the emirate, thanks to the achievements of the emirate's progress and prosperity make him selected for tourists who wish to work And investment.
Interest in Dubai as the payment of infrastructure and development continued towards the acquisition of this sector at a rate of 46 percent of total spending, how serious is the emirate appears in dealing with future benefits, support for small projects and attention to entrepreneurship and enhance the environment incubator for microenterprise and care.
The emirate is also concerned with the support of the public services sector, government excellence, creativity, innovation and scientific research by allocating 5 percent of total government spending to develop performance and establish a culture of excellence, innovation and creativity. .