Sharjah Approves Historic AED 42 Billion Budget, Largest In Emirate's History

Sharjah ruler Sheikh Sultan bin Mohammed Al Qasimi approved a historic AED42 billion budget - the largest in the emirate's history - focusing on financial stability, improving living standards, and supporting social welfare.

It aims to enhance safety, ensure the sustainability of essential resources, and fund key government projects. Furthermore, the budget will improve housing and tourism infrastructure, boosting cultural and recreational tourism to support sustainable economic growth, WAM reported.

The 2025 budget shows a 2% increase in expenditures compared to 2024. Salaries and wages make up 27%, while operating expenses account for 23%. Capital projects remain a priority, making up 20% of the budget, and loan repayments and interest have increased by 2% to 16%.

Support and aid comprise 12%, and capital expenditures represent 2%. For 2025, the infrastructure sector leads the budget at 41%, a 7% increase from 2024, highlighting the government's focus on enhancing infrastructure to support sustainable development and attract investments.

The economic development sector comes second, making up 27% of the total budget. The social development sector ranks third, accounting for 22% of the 2025 budget, maintaining its importance from 2024. This ensures continued support and services for both citizens and residents.

The government administration, security, and safety sector makes up 10% of the budget, an 8% increase from 2024. The budget also focuses on increasing public revenues by improving collection efficiency and using advanced tools.

Public revenues are expected to rise by 8%, with operating revenues making up 74%, a 16% increase from 2024. Capital revenues will account for 10%. Tax revenues will contribute 10%, a 15% rise from 2024, while customs revenues will remain at 4%. Oil and gas revenues are projected to make up 2% of the total revenue.

The 2025 budget focuses on strengthening Sharjah's social, cultural, health, tourism, and infrastructure sectors to match global standards, benefiting all residents. It also aims to help the government tackle global challenges like inflation, rising interest rates and geopolitical tensions.

The Sharjah government is committed to using its resources to minimize the impact of these challenges on the region's economy and protect the interests of citizens, residents, businesses, and institutions.

The budget includes strategic goals across economic, social, scientific, cultural, and tourism areas, with a primary focus on improving the lives of citizens. It supports projects that ensure stability, security, and a high quality of life for everyone in Sharjah.

It also emphasizes creating job opportunities in both the public and private sectors, with a focus on developing citizens' skills and entrepreneurial abilities. This will help them contribute to making Sharjah a cultural and scientific hub while promoting tourism and economic growth.