The 2019 budget shows a 10% year-on-year growth compared to the 2018 value
Sharjah’s 2019 budget worth $7 billion was recently announced, after approval by HH Dr Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah.
The budget showed a 10% y-o-y growth compared to its 2018 value, with salaries allotted the bulk of the budget. 23% of it was focused on the development and improvement of Sharjah’s infrastructure while 41% was committed towards the economic development sector. Another 22% of the budget was dedicated to capital projects and social development each. Social support and assistance account for 11% of the total budget, with 600 citizen jobs presumed to be created during the period.
The budget estimates that Sharjah Government revenues will grow by 20% in 2019.
Waleed Al Sayegh, director-general of Sharjah Central Finance Department (SCFD), said: “The budget of 2019 is based on an objective comprehension of the directives of His Highness, the Ruler of Sharjah and it is a strategic tool that translates the vision and strategy of the government.”
He also said that while focusing on the growth and modernisation of the emirate, this process involves medium-term spending and linking the budget to the economic and social indicators laid out by Dr Sheikh Sultan Al Qasimi.
“With the 2019 budget, our goal is for all of Sharjah’s residents to enjoy a comfortable life,” Al Sayegh added.
Commenting about the budget, Sheikh Mohammed bin Saud Al Qasimi, chairman of SCFD, added: “The budget indicators are all in line with international standards from inflation and sector expenditure as well as other economic indicators. We have also developed a more strategic expenditure framework within governmental departments.
“The 2019 budget will ensure that the emirate of Sharjah continues to grow and develop for it to become a major player on the world economic map.”
“It will also ensure the financial stability of the emirate while taking into account the business costs for both local and international investors,” Al Qasimi added.
In line with the UAE 2021 vision, the 2019 budget also aims to encourage citizens to “strengthen their role in the sustainable building and development of the emirate.