UAE announces $536 million increase on this year’s budget

The budget increase will be financed from the general reserve of the state. (Shutterstock)

UAE President Sheikh Khalifa bin Zayed Al Nahyan announced on Sunday a 1.97 billion dirham ($536 million) budget increase for the current fiscal year, according to Emirati news agency WAM.

The decree-law states that the estimated budget for the financial year 2018 shall be increased by 1.96 billion dirhams, which will be financed directly from the general reserve of the state, as posted on the Federal Gazette of the country.

The increased budget will be distributed to the Minister of Tolerance’s office with 21 million dirhams, the UAE Space Agency with 3.5 million dirhams, the National Media Council with 3.9 million dirhams, the General Authority for Sports with 6.8 million dirhams, and the Emirates Diplomatic Academy with 9.9 million dirhams.

Last Update: Wednesday, 20 May 2020 KSA 09:53 - GMT 06:53