Rulers of emirate unveil 2011 spending plan
Infrastructure projects in Dubai will receive “a significant” proportion of funding in the emirate’s recently announced 2011 budget.
The allocation will see investment of UAE 7.5 billion (US two billion) in further development of pre-approved projects; a 23% total budget share.
The projects, designed to stimulate “economic growth and financial stability” will also “stimulate the flow of local and foreign investments” according to a statement released by the municipality.
No new projects were mentioned.
A further 43% will be invested in the economic sector which also includes roads and transport developments, airports and civil aviation, according to His Highness Sheikh Mohammed bin Rashid Al Maktoum and Abdulrahman Al-Saleh, the director general of the Department of Finance.
The remainder of the budget will be shared between social development (24%); the general services and government excellence sector (11%) and security, safety and justice (22%) sectors in the emirate.