2016 federal budget of AED48.5 billion announced

Monday, 26 October 2015 07:55

A federal budget of AED48.5 billion has been approved for 2016. According to national news agency WAM, the approval was made by the Cabinet, in a meeting chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. The Minister of Economy of the UAE, Sultan bin Saeed Al Mansouri, said it demonstrates a determination to carry out ambitious projects across vital sectors, including healthcare, infrastructure and the environment. He also added that the budget shows that low global oil prices have had a limited impact on the government’s plans, with non-oil sectors contributing around 69% of GDP.

More from UAE News

World’s Coolest Winter campaign spotlights UAE entrepreneurs

The UAE has launched the sixth edition of its World’s Coolest Winter campaign, with this year themed 'Our Winter is Entrepreneurial'.
UAE set for second phase of single-use plastic ban

The UAE is set to significantly widen its ban on single-use plastics, with the second phase coming into effect on January 1, 2026.
Dubai tests drones to clean traffic signals

Dubai’s Roads and Transport Authority (RTA) has begun a pilot project using drones to clean traffic signals across the city.
UAE leaders hail 'enduring bonds of friendship' on Bahrain's National Day

UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has led messages congratulating Bahraini King Hamad bin Isa Al Khalifa on the country's national day, which falls on December 16.