Dubai adopts three-year budget cycle from 2020

The Dubai Ruler has approved AED 196 billion for a three-year budget cycle - from 2020 to 2022 - for the emirate of Dubai.

His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, also approved the emirate's largest-ever annual budget, worth AED 66.4 billion, for 2020.

It's aimed at stimulating the macro economy and help make Expo 2020 Dubai a very special edition.

The budget for the financial year 2020 is the largest in the history of #Dubai, at AED66.4 billion, to meet the emirate's aspirations to stimulate the overall economy and establish @Expo2020Dubai as one of the most prominent editions to be held in the history of the World Expo. pic.twitter.com/jgZHdKzgeH

— Dubai Media Office (@DXBMediaOffice) December 29, 2019

The 2020 budget will mark 46 per cent towards infrastructure and transportation sector and 30 per cent for the social development sector.

A total of 19 per cent will be set aside for security, justice and safety, and 5 per cent towards creativity, innovation and scientific research.