UAE budget 2021: Cabinet approves Dh58 billion budget

Abu Dhabi: The UAE Cabinet on Sunday approved the federal budget 2021 with an estimated spending of Dh58 billion. The federal budget was approved during the today’s meeting held under the chairmanship of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai.

“Our national and vital projects will continue to be implemented in 2021 and “development” will remain our priority,” Sheikh Mohammed said.

In a series of tweets, Sheikh Mohammed made it clear that the UAE will be among the fastest nations to recover in 2021. “The government has dealt with the 2020 budget efficiently and it has all the tools to continue its financial and operational efficiency in 2021, which will be a better and more efficient year,” Sheikh Mohammed tweeted.

During the meeting, the Vice President reviewed the achievements made by the Emirates Investment Authority and its future plans. The Authority includes all the investment assets of the federal government and is considered a supplement to its budgets as well as a source of strength to the national economy.

The council of minister okayed a decision to reshuffle the Emirates Youth Council under the chair of Shamma bint Suhail Faris Al Mazrui, Minister of State for Youth Affairs.

It also called on public and private entities to use the UAE Media Entity in their campaigns outside the UAE to promote further for the UAE.

The Cabinet also ratified six international economic agreements with six African countries. “Our relations with the African continent are improving and we are among the largest global investors in its economies,” tweeted Sheikh Mohammed.