The emirate of Sharjah plans to increase spending this year by 2 per cent to Dh20.3 billion, a government statement said yesterday.
Sharjah’s revenue will increase by 8 per cent this year from last year as the emirate seeks to diversify its income, the statement said without elaborating further.
Operating expenses constitute 41 per cent of the budget, followed by salaries and wages, at 26 per cent, and projects at 14 per cent.
Operating revenue from government departments makes up 85 per cent of the total figure.
“The revenue’s increase of 8 per cent shows Sharjah’s strategic approach to diversifying resources,” said Waleed Al Sayegh, the director general of the finance department at the Sharjah government. “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.”
Dubai approved in December a Dh46.1bn budget for this year, a 12 per cent increase from last year.
The UAE’s federal budget for this year has trimmed spending, which will be 1.1 per cent lower at Dh48.5bn as lower oil prices spur the government to tighten its belt.
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