Special Features
The Public Budget of Dubai Government
His Highness Sheikh Mohammed bin Rashid Al Maktoum - Vice President, Prime Minister and Ruler of Dubai signed the law of fiscal year budget, in 2010 for the government sector in the Emirate of Dubai. The Public Budget of Dubai Government reflects the guidance of HH assuring the need to work within the fiscal policy framework aiming to elevating economic growth rates to overcome the global crisis repercussions and in the same time commitment to the internationally recognized financial rules regarding the budget deficit and public expenditure management.The Public Budget main key features of this year are the continuation to work in the development and completion of the emirate’s infrastructure projects. where an estimated government spending on infrastructure in the 2010 budget is 10.7 billion AED, representing 30% of total government spending in the framework of the emirate’s government to increase total demand and moving the emirate’s economy to the stage after the crisis.
It is estimated that the operating budget surplus will reach 1.9 billion AED .Achieving this surplus is one of the fruits of increasing efficiency of government spending without unbalancing the overall objectives of fiscal policy and this surplus was achieved despite an increase in the number of workers in the public sector of 3.6% compared to last year (2009).
According to the Public Budget for 2010 it is estimated that government revenues will reach AED 29.4 billion. The government spending for the same year will reach AED (35.4 billion). (A decline in estimated government spending in 2010 as compared to government spending in 2009 by nearly 6%, this is mainly due to the completion of many infrastructure projects, according to the government’s plan).
The 2010 Public Budget comes under commitment of the internationally adopted financial rules which represents one of the main trends of the Emirate’s Government in the public funds management. It is estimated that the deficit will reach AED 6 billion, which makes the deficit ratio to GDP does not exceeding 2% which is less than the maximum deficit allowed (3%) of GDP . The volume of the operating surplus for this year increased to reach AED1.9 billion.
Department of Finance in Dubai Government estimations indicate that the coming years will have a surplus in the public budget as a result of planned completion of Emirate ’s infrastructure development , in accordance with the directions of HH Sheikh Mohammed and in order to provide a great investment environment.
