UAE unveils 2022-2026 general budget

UAE Tuesday adopted the general budget for the years 2022- 2026with federal spending of $78.96 billion, Zawya reports.
The cabinet, chaired by Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai also rubber-stamped the general budget for 2022, estimated at $16.05 billion in projection.
The largest bulk of the 2022 budget is directed towards the development and social benefits sector at 41.2 percent, out of which 16.3 percent is for the education sector, 6 percent for social development, 8.4 percent for health, 8.2 percent for pensions and 2.6 percent for other services, the media notes, citing state-run news agency WAM.
The Gulf country also plans to allocate 3.8 per cent of next year budget for infrastructures and financial resources sector. The cabinet also approved in connection the establishment of a council for infrastructure and housing chaired by Suhail al-Mazrouei, the minister of Energy and Infrastructure.