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Sheikh Mohammed approves Dubai’s ambitious budget for 2024-2026

The budget offers spending of $21.5bn for the following year.

The budget offers spending of $21.5bn for the following year.

Dubai’s Ruler Allocates Dh246.6 Billion for Expenditure

Sheikh Mohammed bin Rashid, the Vice President and Ruler of Dubai, has given his approval to Dubai’s budget for the years 2024 to 2026, allocating a substantial Dh246.6 billion ($67.14 billion) for various expenditures. 

This strategic move aims to bolster Dubai’s economic growth, aligning with its ambitious development plans.

Legislative Approval: Law No 20 of 2023

Sheikh Mohammed also granted his approval for Law No 20 of 2023, which outlines the general budget for the fiscal year 2024. This legislative step solidifies the financial roadmap for the upcoming year, demonstrating a commitment to responsible fiscal management.

Investing in the Future: Economic Recovery and Development

The emirate of Dubai has set aside Dh79.1 billion for spending in the coming year, reflecting the remarkable pace of Dubai’s economic recovery. 

This budget allocation is intended to further stimulate the macroeconomy and support the overarching goals of the Dubai Strategic Plan 2030 development project. Additionally, it aligns with the objectives of the Dubai Economic Agenda D33, emphasizing Dubai’s commitment to continued growth and development.

Dubai’s strategic allocation of resources underscores its dedication to not only recovering from economic challenges but also forging ahead with its ambitious plans for the future. 

This budget is a testament to the emirate’s resilience and commitment to its long-term development objectives.

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