"2020 will be the beginning of a new decade of development."
The UAE cabinet has approved a zero-deficit federal budget of 61 billion dirhams ($16.61 billion) for the fiscal year 2020 on Tuesday.
Sheikh Mohammed bin Rashid, Vice President and Prime Minister of the UAE, and ruler of Dubai, said a third of the budget is allocated for social development, one third for government affairs and the rest to infrastructure, economic resources and living benefits. This is the largest budget ever recorded in the UAE.
"2020 will be the beginning of a new decade of development," he tweeted.
Last year's 60.3 billion dirhams federal budget was part of a three-year, 180 billion dirhams budget for 2019-21.
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