DUBAI MAKES A BUDGET OF $15.4bn FOR 2018 - CALIPHATE MEDIA

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Tuesday, 12 December 2017

DUBAI MAKES A BUDGET OF $15.4bn FOR 2018



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The king of Dubai Sheikh Mohammed bin Rashid Al Maktoum has approved the sum of Dhs56.6bn ($15.4bn) budget for next year. This is an increase of 19.5 per cent from the 2017 because of an increase spending on infrastructure.
The emirate is expected to spend about 46.5 per cent more on infrastructure in 2018, accounting for 21 per cent of its total spending, as it makes plans to expands its metro rail system and builds other projects and also host expo 2020 world fair, the government said on Sunday.
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Salaries and wages are projected to increase 10 per cent next year, accounting for 30 per cent of total spending, as over 3,100 public sector jobs are created. General, administrative, grant and support spending is expected to rise 11.5 per cent, accounting for 42 per cent. Meanwhile, state revenues are projected to increase 12 per cent to Dhs50.4bn, with fees providing 71 per cent of revenues, taxes 21 per cent and government investments 2 per cent.
The government projected a budget deficit of Dhs6.2bn in 2018, or 1.56 per cent of gross domestic product, compared to a deficit of Dhs2.5bn this year. But it said it would run an operating surplus, excluding investment spending and non-recurring revenue, of Dhs2.5bn.

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