Sheikh Sultan Bin Mohammed Al Qasimi.

Gulf Today, Staff Reporter

His Highness Dr. Sheikh Sultan Bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, approved the general budget of the emirate for the year 2024 with a total expenditure of about Dhs40.832 billion, which is the largest in the history of the emirate.

The new budget, which is 16 per cent larger comparing to the previous year, aims to secure financial sustainability, ensure decent living and social welfare, ensure social security and safety, and secure sustainability of energy, water and food resources.

The budget is based on strengthening the financial anchors to develop a pioneering social, civilizational, cultural and health environment, and to ensure that residents in the emirate enjoy the benefits achieved by economic prosperity.

Moreover, it seeks to reinforce the government capabilities to overcome the global and regional challenges caused by the unstable global economies, including inflation, high interest rates and economic recession, which is reflected in all countries.

Sheikh Sultan Bin Mohammed Bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah, praised the approval of the Sharjah’s general budget made by His Highness the Ruler of Sharjah. The new budget, which is the emirate’s largest one ever, will contribute to continuing the civilizational and development renaissance to ensure a decent and stable life for the Emirati family, the Crown Prince said.

He also stressed that the general budget of the emirate reflects the prudent vision of His Highness the Ruler of Sharjah and his directives aimed at enhancing the emirate's leading position in various sectors. “It will contribute to supporting social stability, enhancing economic competitiveness, cultural leadership, and quality tourism, and focusing on scientific and knowledge renaissance,” he added.

The new budget will enable government departments and entities to achieve the goals they set in line with the emirate's plans. Furthermore, it will work on carrying out various infrastructure projects, and completing other quality projects in the scientific and technical fields, as well as achieving food, business and tourism security, and enhance the sense of security, safety and decent living for citizens and residents of Sharjah.