The Federal Budget for the year 2015 amounted to an estimated cost of AED 49.1 billion - an increase of AED 2.9 billion (6.3%) compared to the fiscal year 2014. This increase was the largest in the federation’s history.
A breakdown of the budget showed that AED 24 billion (49% of the total budget) was allocated to the social development and social benefits sector, AED 20 billion (41%) for government affairs, AED 1.8 billion (3.7%) for infrastructure and the economic sector, AED 1.6 billion (3.2%) for financial assets and AED 1 billion (2.1%) for federal spending.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said that investing in and meeting the needs of citizens are the cornerstones of the UAE’s government policies, and represent a top priority in the national agenda for achieving the UAE Vision 2021.
Priorities were directed towards health, education and social services, as well as developing government services for UAE citizens. This is in line with the directives of His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE, to provide prosperity, security and a decent life for citizens at all levels.
The budget was consistent with initiatives, projects and assigned allocations in the Federal Government strategy for the same period, in tandem with the zero-based budget framework, projecting no deficit, new taxes or fees. The combined budget for the federation (ministries + federal authorities) amounted to AED 56.6 billion.
The increase of the budget had been allocated for a number of ambitious strategic projects and programs, such as the Etihad Rail project, space exploration programs, and expansions in the health and education sectors.