Sharjah: Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, has approved the emirate’s general budget for 2023, with a total expenditure of nearly $8.77 billion (AED32.2 billion).
The general budget for the year focuses on achieving financial sustainability and strengthening the economic competitiveness of the emirate.
Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah, stated that “the Sharjah Government’s budget for 2023, approved by Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, mainly aims to support sustainable development, achieve financial sustainability, increase competitiveness and advance government services.”
“The budget for the new year will continue the process of development and progress,” Sheikh Sultan added, while pointing out that previous years have witnessed valuable achievements and the new budget will add to them.
Sheikh Mohammed bin Saud Al Qasimi, head of the Central Finance Department in Sharjah, indicated that the general budget of the emirate has assumed many strategic and financial goals.
Sheikh Mohammed continued that “the budget reinforces the emirate’s strategic direction in developing infrastructure in vital facilities and areas, preserving the environment and public health. It expands the role of tourism in the emirate through tourism and service projects supervised by the Ruler of Sharjah, which have achieved and will achieve added value.”
The budget is expected to guarantee social stability and economic well-being in Sharjah and to contribute seriously and effectively to making the emirate a scientific and cultural platform, a tourist environment, and a distinctive economy.
Furthermore, the budget will enhance the financial foundations to strengthen economic competitiveness, and cultural, scientific, and tourism leadership. The budget will also contribute to strengthening government capabilities in facing regional and global challenges, including inflation, high interest rates, and economic stagnation, which is certainly reflected in all countries.