Dubai Ruler approves $53.36bn three-year budget to boost economy
Expenses of $18bn (AED66.4bn) allocated to FY 2020 budget, which is the largest in the emirate of Dubai's history
UAE Vice President and Prime Minister, and Ruler of Dubai, HH Sheikh Mohammed Bin Rashid Al Maktoum, has approved a three-year budget of $53.36bn (AED196bn)— for the fiscal years 2020 to 2022 — to be effective for the emirate.
As part of the announcement, expenses in Dubai’s FY 2020 budget has been projected at $18bn (66.4bn), the state-run news agency, Wam, confirmed in a Twitter post.
The move is part of the Dubai government’s aim to boost the emirate's economy; provide a macroeconomic stimulus; and support the establishment of the Expo 2020 Dubai – the 173-day world’s greatest show, which will welcome more than 25 million visitors to the event set to begin on 20 October, 2020.