Sheikh Mohammed bin Rashid approves 2021 Dubai finances with Dh57.1bn in spending

Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Primary Minister and Ruler of Dubai, approved the emirate's general finances that allocates Dh57.1 billion for spending.

Public revenue is forecast to reach Dh52.314bn, despite a lowering or freeze on costs as an monetary incentive measure, the federal government said in a affirmation on Sunday.

The new budget considers the "exceptional monetary conditions" of the 2020 fiscal year and the repercussions of the Covid-19 pandemic on the global economy, it said.

"Initial estimates for 2021 recommend that GDP will dsicover 4 per cent development, supported by continued recovery of financial actions," Arif Abdulrahman Ahli, executive director of preparation and general budget sector at the section of finance, said. "The government will continue to enhance the purpose of the private sector so it can serve as you of the primary engines of monetary growth."