Sheikh Mohammed approves Dhs61 billion zero-deficit federal budget for 2020

Vice President, Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed Bin Rashid Al Maktoum, chaired a Cabinet meeting on Tuesday.

Sheikh Mohammed announced a zero-deficit federal budget during the meeting.

Sheikh Mohammed took to Twitter and said, “Today I presided over a Cabinet meeting, during which we approved a zero-deficit federal budget of Dhs61 billion for 2020: One-third allocated to social development, one-third to government affairs, the rest to infrastructure, economic resources and living benefits.”

“Today, I saw a report on the UAE space sector by Hazzaa Al Mansoori and the team, the size of the sector Dhs22 billion. It employs 1,500 staffers in 50 companies, including 2 of the largest satellite communications companies in the world. We have 16 satellites. We have started manufacturing satellites locally. We have a probe that will go to Mars in 8 months,” Sheikh Mohammed said.

The Dubai Ruler said, “We also approved at the Cabinet meeting a government fund to support education to strengthen partnerships with the private sector and businessmen in the field of education... and to provide additional financial resources for development programmes in the national education sector.

“Today, we adopted the UAE's participation in the International Solar Alliance and the restructuring of the Emirates Council for Climate Change and the Environment.”