Dubai's 3-year budget to stimulate the macro economy

Dubai's Dh181-billion budget for 2022-24 approved on Sunday will help accelerate post-Covid economic recovery.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, also approved the general budget for the fiscal year 2022, with Dh59.95-billion expenditure.

This will help boost entrepreneurship, "enhance society's happiness and consolidate Dubai's position as a land of opportunities and innovation", the government said on Sunday.

The budget cycle will support Dubai's efforts to "stimulate the macro economy."

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, said: "Dubai's general budget for the fiscal cycle of 2022-2024, which reflects the fundamental strengths and stable base of the emirate's economy, supports the realisation of its future economic aspirations, in addition to placing the emirate at the forefront of worldwide efforts to promote recovery."

The three-year budget cycle focuses on increasing economic growth rates by activating the public-private partnership ecosystem. It also addresses the social aspects of healthcare and education, as well as digital infrastructure development and financial sustainability programmes.