His Highness Sheikh Mohammed bin Rashid Al Maktoum approved the Government of Dubai's general budget for the fiscal cycle of 2024-2026 on Monday

The UAE's vice president, prime minister, and ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum approved the government of Dubai's general budget for the fiscal year 2024–2026 on Monday. The budget's total expenditures came to Dh246.6 billion. Sheikh Mohammed also approved Law No. (20) of 2023, which relates to the General Budget of the Dubai Government for the Fiscal Year 2024. The budget's estimated expenditures are Dh79.1 billion, reflecting the emirate's economic recovery and bolstering its goals to support the goals of the Dubai Economic Agenda "D33" and the Dubai Strategic Plan 2030 development project.

The financial plan for the ensuing three years (2024–2026) reaffirms Dubai's commitment to fostering innovation and entrepreneurship, drawing in more foreign capital, advancing social welfare, and strengthening the emirate's reputation as a hub for opportunity. By promoting industries like artificial intelligence, digitization, and space exploration, it also exemplifies Dubai's future-oriented agenda.

The government of Dubai expects to receive estimated public revenues of Dh90.6 billion, of which Dh85.1 billion have been allocated to the budget and Dh5.5 billion to the general reserve, as a result of the emirate's quick and effective recovery from the effects of the global pandemic. Twenty-six percent of all government spending goes towards salaries and wages; twenty-three percent goes towards grants and government support; and twenty-four percent goes towards general and administrative spending. Additionally, by setting aside 8% of the budget's anticipated total expenditures as a special reserve, Dubai is eager to protect itself against any scenario that can arise from worldwide problems. As part of its strict financial policies, Dubai has also kept its debt servicing ratio under seven percent of its overall spending.

In the 2024 budget, the social development sector will receive 34% of all government spending in the following areas: housing, health, education, scientific research, education, care for low-income families and women and children, youth preparation, sports development, care for the elderly and retired, and care for people who are determined.

In order to further expand and improve the security, justice, and safety sector and make it a sector the emirate can be proud of on a worldwide scale, the Dubai government has set aside 19% of all expenditures in this area.42% of all investment has gone into infrastructure, which includes waste treatment facilities, parks, sewage stations, roads, tunnels, and bridges as well as transportation and renewable energy sources. By designating five percent of total government spending to performance development and the promotion of an excellence, innovation, and creative culture, the emirate's government has also placed a strong emphasis on supporting the public services sector, government excellence, creativity, and scientific research.