There has been an increase in government spending by 2% in 2016, 6% of the budget has been allocated for assistance and support, and 2,500 new jobs have been created for citizens in various government agencies
1% of the budget has been allocated as reserve for emergency requirements;
26% of the budget for salaries and wages;
46% for the economic development sector to reinforce sustainable growth;
The levels of expenditure on infrastructure projects are to be maintained.
The current general budget focuses on many strategic objectives and indicators of the economic, social, scientific and cultural fields in the Emirate of Sharjah. This includes the promotion of investment in a national workforce and resources, and a larger role for them in the construction process, as well as the achievement of sustainable development.
Sharjah's annual budget for 2016 involves a 2% increase of government spending allocations in the emirate, in comparison with the 2015 budget, with a focus on the indicators of government spending efficiency in the emirate.
Speaking on the general budget, HE 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.”
The total expenditure approved in Sharjah's general budget for 2016 amounts to AED 20.3 billion divided among the various sectors as follows:
- The relative importance of the economic development sector is 46% of the total general budget.
- The budget pays attention to cultural and educational aspects, as the emirate of Sharjah is considered the capital of Islamic and Arab culture and devotes great care to community development and education. This care translates into maintaining the relative importance of this vital sector in the emirate's budget for 2016 (10%), which is the same as that of 2015.
- The government's care for the governance sector has increased in order to improve employees' welfare, increase the Emiratisation percentage, and provide jobs. The relative importance of this sector is 13% of the total government expenditure for 2016.
- The 2016 budget will provide about 2,500 new jobs for citizens in different government agencies with the aim to recruit fresh graduates and national professionals; financial funds have therefore been allocated for this purpose.
Press release distributed by Pressat on behalf of SAHARA COMMUNICATIONS, on Sunday 21 February, 2016. For more information subscribe and follow http://www.pressat.co.uk/