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UAE's 2007 budget free of deficit
posted on 16/10/2006
 The federal budget for 2007 stood at 28.4 billion and maintained a zero deficit for the third running year. The budget lists both revenues and expenditure at Dh 28.425 billion, compared with Dh 27.878 billion in 2006.
In a press conference held in Abu Dhabi yesterday, Dr Mohammed Khalfan bin Kharbash, Minister of State for Financial and Industrial Affairs said that 2007 budget draft, issued for the first time ahead of implementation, focuses mainly on education which makes up Dh 7.1 billion or 33 percent of the total budget.
It is followed by security and justice, constituting 15.7 percent at Dh 3.3 billion. Dh 1.5 billion has been allocated for health, representing 7.1 percent, while almost similar amounts are earmarked for social affairs, infrastructure (Dh 1.497 billion) and projects (Dh 1.1 billion or 5.2 percent).
The minister said that the Emirates (Abu Dhabi and Dubai) contributed 52 percent, or Dh 14.8 billion, of the budget, while 35 percent (Dh 9.9 billion) came from ministries' revenues, 13 percent (Dh 3.6 billion) from investments.
"A balanced budget is a means rather than an end to serve the budget programme and to enable the different sectors to achieve their goals," Kharbash said. He pointed out that no additional fees or charges will be imposed on government services as a result of the budget.
He also outlined the 10 key programmes for the fiscal year 2007, including education, power generation, police services, educational curricula development, curative services, social development, foreign policy and higher education at UAE University and Higher Colleges of Technology.
Kharbash said that salaries constituted Dh 9.1 billion, equal to 33 percent of the budget draft and that the total cost of infrastructure projects is estimated at Dh 6.5 billion. He noted that in the 2007 budget, the Ministry of Labour will be granted Dh 50 million to create jobs for its new inspection department. The budget of Ministry of Government Sector Development will get a boost of Dh 31 million to carry on with its ambitious e-government project. Some Dh 435 million will be allocated for road projects while an amount of Dh 420 million will be earmarked for boosting educational and health projects. (Emirates News Agency, WAM)
RELATED ARTICLES
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Budget of 2009 does not include imposition of tax or new fees: Ministry of Finance - 23 October 2008
Dubai's 2008 budget posts Dh11.4 b surplus - 13 January 2008
FNC approves draft federal budget - 31 December 2007
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