Dubai – Mubasher: The Federal National Council (FNC) has passed the UAE’s federal budget of AED 60.3 billion ($16.3 billion) for 2019.
Around 59% of the budget, the highest of its kind in the history of the GCC nation, will be allocated for education and social development.
The UAE’s new budget is 17.3% higher, compared to AED 51.4 billion ($14 billion) in the full-year 2018.
Abu Dhabi will contribute with around AED 17.1 billion ($4.7 billion) to 2019 budget, followed by Dubai with AED 1.2 billion ($327 million).
A budget of AED 180 billion ($49 billion) was approved for 2019-2021 for the sake of achieving the targets of the UAE Vision 2021.
As for the 2019 budget, around AED 25.5 billion will be earmarked for social development programmes, and AED 10.25 billion for education.
Moreover, the Ministry of Finance (MoF) has approved a draft law on health insurance for citizens and it will be presented to the legislative committee at the Justice Ministry and then the Cabinet for approval, Minister of State for Financial Affairs Obaid Humaid Al Tayer said.
He added that ministries and federal authorities service fees will remain unchanged for the coming three years.
