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Emiratisation key to Sharjah $5.5bn 2016 budget

Economic diversification on the cards as Sharjah focuses on Emiratisation amidst a 2% increase in spending for the year

Sharjah is eyeing economic diversification options.
Sharjah is eyeing economic diversification options.

The UAE's Sharjah Emirate has approved its government budget for 2016.

The budget records a 2% increase in spending to $5.52bn (AED20.3bn).

Of the total budget, 6% has been allocated for assistance and support, with 2,500 government jobs created for citizens. 

The level of infrastructure expenditure will be maintained, according to Arabian Business.

An increased focus on Emiratisation has also been pencilled into the budget's aims. 

Aimed at enhancing the Emirate's cultural and educational segments, Sharjah's 2016 budget seeks to deploy economic diversification tactics for improved performance. 

Waleed Al Sayegh, director general of the Finance Department of the Government of Sharjah, said: "The revenue's increase of 8% shows Sharjah's strategic approach to diversifying resources.

"The general budget has taken into consideration changes in the world economic climate and shows the capabilities of Sharjah to move forward and to achieve sustainable growth," he added.  

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Construction Week - Issue 764
May 31, 2020