Sharjah approves its largest-ever budget for growth and development projects

Sharjah has approved its biggest-ever budget for 2025, amounting to Dh42 billion. This budget is a key step in improving the emirate’s living standards and supporting its residents. It focuses on investing in infrastructure, social welfare, cultural activities, and tourism to create a better environment for everyone.

Stay informed with the latest news. Follow DXB News Network on WhatsApp Channel

A significant part of the budget, 41%, will be spent on infrastructure. This is a 7% increase compared to last year and shows the government’s commitment to building important facilities to attract both local and international investments. The goal is to support sustainable growth. The economic development sector will receive 27% of the budget, which will help make Sharjah more competitive. The social development sector gets 22% of the total budget, focusing on areas like healthcare, education, and social support for residents.

The budget also includes new ways of financing projects to ensure the emirate's financial stability. There is a focus on updating payment systems, embracing digital technology, and reducing red tape in government processes. These changes aim to make services faster and easier for people.

The government plans to boost tourism and protect Sharjah’s cultural heritage, making the emirate a leading centre for culture, science, and leisure in the region. Investing in the workforce is another priority, with programs to help residents develop entrepreneurial skills and find work opportunities in both the private and public sectors. This will help Sharjah grow as a vibrant cultural and economic hub.

In terms of spending, 23% of the budget will go to operational costs, which includes improving the services provided by government agencies. Capital projects will get 20%, supporting further development in infrastructure. Loan repayments and interest will take up 16% of the budget, a slight increase from the previous year. This shows the government’s dedication to meeting its financial obligations.

Social support initiatives will receive 12% of the budget, with special attention given to sustainability and managing resources better. New measures are being introduced to help control spending and make sure the government focuses on the most important projects.

Sharjah’s revenue is also growing. Public revenues are expected to rise by 8% compared to 2024. Operating revenues will make up 74% of the total, increasing by 16%. Tax revenues are predicted to increase by 15%, making up 10% of the overall income. Customs revenues will stay the same at 4%, while oil and gas revenues will contribute 2%.

Overall, the 2025 budget reflects Sharjah’s strong focus on sustainable development, creating job opportunities, and making life better for its people.

Dec. 24, 2024 4:55 p.m. 884

#trending #latest #SharjahBudget2025 #InfrastructureInvestment #EconomicGrowth #SocialDevelopment #Sustainability #CulturalInitiatives #Tourism #FinancialStability #JobOpportunities #DigitalTransformation #PublicSectorGrowth #SharjahDevelopment #headlines #topstories #globalUpdate #dxbnewsnetwork #dxbnews #dxbdnn #dxbnewsnetworkdnn #bestnewschanneldubai #bestnewschannelUAE #bestnewschannelabudhabi #bestnewschannelajman #bestnewschannelofdubai #popularnewschanneldubai