Sharjah Ruler Dr. Sheikh Sultan bin Muhammad Al Qasimi. ARCHIVE

The general budget for the emirate for 2023, with a total expenditure total of almost Dh32.2 billion, was approved by Dr. Sheikh Sultan bin Muhammad Al Qasimi, a member of the Supreme Council and the ruler of Sharjah. Increasing the emirate's economic competitiveness and achieving financial sustainability are the two goals of the general budget for this year. This budget was designed to bolster the financial base to increase economic competitiveness and cultural, scientific, and tourism leadership. It was also based on enhancing government capabilities to deal with issues affecting all nations' economies, such as high-interest rates, inflation, and economic stagnation. In light of this, the Sharjah government is putting significant effort into reducing the adverse effects of these challenges on the financial and economic reality of the emirate of Sharjah and protecting its citizens, residents, businesses, and institutions operating there. The overall budget has comprehensive objectives, priorities, and strategic indicators with implications for the economy, society, science, and culture. Promoting investment in infrastructure and other economic activities, which improve the emirate's competitiveness and the sustainability of its financial position, is the most important of these objectives. Additionally, it aims to offer social support to citizens in various ways that cater to their needs and those of society. It provides them with social stability and economic security, encouraging them to put forth their best efforts and thoughtfully and effectively contribute to developing the Sharjah emirate as a scientific and cultural hub, a tourist destination, and a distinctive economy. Additionally, it improves Sharjah's status on the local, regional, and global maps regarding culture, economy, and finances. The budget has worked with its objectives and methodology to use and develop the best means and technologies to stimulate the economy, development, and financial sustainability, as well as the growing interest in the resources and human energies of citizens and enhance their role in the processes of construction and sustainable development. The budget aimed to curb and rationalize spending in areas that might not improve the competitiveness and financial sustainability indices to boost the effectiveness of managing government spending by government agencies in the emirate. As a result, spending dropped by 12 percent from the 2022 budget, but the most critical areas remained unaffected. Employment, economic development, and social advancement are some of these. The Sharjah Government's budget for 2023, according to Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah, focuses primarily on fostering sustainable development, achieving financial sustainability, boosting competitiveness, and advancing public services. He continued, pointing out that the previous years had seen significant accomplishments, and the new budget would build upon them as the development and progress process continued. Sheikh Sultan bin Ahmed emphasized that through initiatives, projects, and activities spanning all sectors, the emirate's new budget considers all social, health, educational, informational, cultural, and media services in addition to infrastructure, investment, and tourism. Through a variety of services and infrastructure projects, it also prioritizes the interests of citizens, locals, guests, and tourists, he continued. In addition to linking the overall budget with several economic and social indicators, preparing the budget has been undertaken to create a long-term financial plan for the government. These include boosting infrastructure and development, boosting economic competitiveness, and enhancing the role of the private sector through strategic alliances to ensure it keeps supporting development. For families to experience stability, assurance, and unity—words that the Ruler of Sharjah frequently used—the budget offers social support, job opportunities, and adequate housing. He is devoted to giving the people of this emirate a comfortable life and long-lasting prosperity. To ensure the financial viability of the projects, the government has also worked to diversify the funding sources for the budget. The Sharjah Ruler has professionally and under the best international standards and practices directed implementation in several economic, social, tourism, scientific, and infrastructure sectors. BKM/ Expat Media
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