Sharjah budget has adopted various strategic goals and indicators, including promoting investment in infrastructure.

Staff Reporter, Gulf Today

His Highness Dr Sheikh Sultan Bin Mohammed Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, has approved Dhs34.4 billion for the 2022 general budget for the Emirate of Sharjah. This is in line with the emirate’s strategic vision regarding promoting economic and social development, enhancing financial sustainability, and stimulating the overall economy.

The general budget contributes to both services and development and is based on the process of strengthening the emirate’s financial pillars to advance economic, cultural, scientific and tourism leadership and enhance capabilities to meet various economic challenges.

The budget has adopted various strategic goals and indicators, including promoting investment in infrastructure and other economic activities to achieve a competitive advantage, and providing various forms of social support to address the needs of citizens.

The 2022 budget will provide approximately 1,000 new jobs for newly graduated nationals.

The budget aims to use the best means to stimulate the economy, encourage development, and ensure financial sustainability, as well as to support the growing interest in human resources and to enhance the role of citizens.

Sheikh Sultan Bin Ahmed Bin Sultan Al Qasimi, Deputy Ruler of Sharjah, said: “The Sharjah government’s budget for the year 2022 follows the directives and comes with the blessing of His Highness Dr Sheikh Sultan Bin Mohammed Al Qasimi, to complete the emirate’s march in achieving the highest levels of excellence, success and sustainable development in all sectors and fields. It is set to help the emirate continue to build on what has already been achieved, according to Sheikh Sultan’s insightful vision.”

Sheikh Sultan Bin Ahmed added: “The new year’s budget, which exceeds Dhs34 billion, and which has increased in quantity and quality over the previous year, calls on each of us to take responsibility and to contribute to the advancement of Sharjah in a fitting manner to ensure a better future for all. Under the wise leadership of His Highness, Ruler of Sharjah, who offers his limitless support and of Sheikh Sultan Bin Mohammed Bin Sultan Al Qasimi, Crown Prince, Deputy Ruler of Sharjah and Chairman of the Executive Council, it is our duty to develop all areas and services and to implement projects according to the best standards to maintain social cohesion and achieve prosperity for all.”

Sheikh Mohammed Bin Saud Al Qasimi, Chairman of the Central Finance Department in Sharjah, indicated that the emirate’s new general budget adopts many strategic and financial goals and priorities, which reflects the directives and vision of the Ruler of Sharjah, as well as that of the Executive Council. It also supports the strategic vision of the Central Finance Department, which works to achieve higher levels of financial sustainability, to efficiently manage government resources, to support government agencies in terms of service provision, to strengthen strategic partnerships with the private sector, and to provide incentives that ensure the continued advancement, growth and development of the emirate.

Waleed Al Sayegh, Director General of the Central Finance Department, stressed that while the world is witnessing instability because of the negative effects of the pandemic, Sharjah has created an ideal balance between development and services, resulting in the continued implementation of capital projects and initiatives. Both Khorfakkan and Kalba, as well as the rest of the emirate’s regions, witnessed an urban renaissance with social, tourist and cultural dimensions.

The Director General indicated that the general budget has increased by (2 per cent) compared to the 2021 budget, and that the government will continue to support capital projects to ensure continuity in meeting the spending needs on these projects in 2022. The capital projects budget constitutes (30 per cent) of the general budget.

Salaries and wages constitute (25 per cent) of the budget, an increase of (4 per cent), while operating expenses make up (25 per cent) for the year 2022, an increase of (3 per cent) compared to the budget of 2021. The budget for support and aid accounts for approximately (11 per cent) of the general budget, (3 per cent) more than in 2021, while the balance of loan repayments and interest constitute (7 per cent) of the total, which is an increase of (18 per cent). This will enhance the government’s solvency and ability to meet all its obligations.

In addition, to enable the government to achieve its strategic and operational goals and initiatives, the Department of Finance wants to enhance the government’s financial stability and sustainability by increasing the level of spending by (2 per cent), thus improving government agencies’ ability to meet development requirements.

The process of classifying the budget according to economic sector is one of the most important tools reflecting the government’s strategic direction. The infrastructure sector ranked first with (44 per cent) of the total general budget for 2022, which is an increase of (4 per cent). This reflects the government’s interest in developing the emirate’s infrastructure, which is the backbone of the development and sustainability process, and which attracts foreign and local investments across all vital sectors.