Disha Dadlani

Following Dubai's announcement of a $15.5bn (AED57.1bn) general budget for the fiscal year 2021, HH Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, has approved the 2021 general budget for Sharjah of $9.14bn (AED33.6bn).

According to Sharjah Finance Department (SFD), the budget has increased 12% compared to the final 2020 budget with the aim to achieve the strategic vision of the emirate in economic and social development, enhancing financial sustainability, and stimulating the macroeconomic environment, UAE's state-run news agency Wam reported.

Commenting on the budget, Sheikh Mohammed bin Saud Al Qasimi, Chairman of the Sharjah Finance Department, said: "The general budget for this year is the largest in the history of the emirate. The budget of the emirate has adopted many strategic and financial objectives and priorities, which reflected the high directives of the Ruler of Sharjah and his comprehensive and renewed vision."

Waleed Al Sayegh, the Director-General of the Finance Department said: "Of the budget, 43% is allocated for developing and improving infrastructure in the emirate, with an increase of 40% over the 2020 budget".

The budget also witnesses an allocation of 29% for developing the economic sector.

The capital projects budget accounts for 32%, with an increase of 46% over the 2020 budget to enhance infrastructure and ensure the development and improvement of the transport network, tunnels, tourism facilities and various other service facilities.

Read the original story here.