Dubai – Masaader News
Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai, chaired today the UAE cabinet, where a zero-deficit federal budget of AED180 billion for the next three years was approved.
“I have chaired today a Cabinet meeting, during which we approved the federal budget of Dh180 billion for the next three years,” Sheikh Mohammed tweeted. “59% of the budget will go to education and social development,” he added.
The budget includes 42.3% for community development, 17% for education development, and 7.3% for healthcare development.
During cabinet meeting today, also a new federal law was adopted to regulate the space and advanced technology sectors in the UAE. Sheikh Mohammed tweeted: “the goal is to open up the space sector to investment, research and partnership building.” Adding “It was a coincidence to adopt a large federal budget with the new law for space sector. Both will take the Emirates to new heights”.