UAE among fastest to recover in 2021: Sheikh Mohammed

Cabinet approves $15.7bln budget for next year

  
Chaired by Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum, the UAE Cabinet approves the federal budget of AED 58 billion for the fiscal year 2021. Image courtesy Dubai Media Office Twitter handle.

Chaired by Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum, the UAE Cabinet approves the federal budget of AED 58 billion for the fiscal year 2021. Image courtesy Dubai Media Office Twitter handle.

Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, is optimistic about the coming year, citing that the country will be among the fastest to recover in 2021.

The Dubai ruler, who chaired a cabinet meeting that approved the allocation of 58 billion UAE dirhams ($15.7 billion) for 2021, said that important projects will continue next year.

“Our vital national projects will continue in 2021... and development priorities will remain a priority,” Sheikh Mohammed said in Arabic on Twitter.

He noted that the government “has dealt” with the 2020 outlay “efficiently”, and that it has “all the tools to continue its financial and operational efficiency in 2021.”

“[2021] will be a better and more efficient year,” Sheikh Mohammed said.

(Reporting by Cleofe Maceda; editing by Mily Chakrabarty)

Cleofe.maceda@refinitiv.com 

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© ZAWYA 2020

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