UAE approves federal budget for 2017

The United Arab Emirates’ Federal National Council (FNC) approved the country’s federal budget for 2017, set in late October at AED 48.7 billion, state news agency WAM reported on Tuesday.

The budget mainly focuses on education, health, and social development, the statement said.

About 20.5 percent of the 2017 budget (AED 10.2 billion) was earmarked for the education sector, 8.6 percent (AED 4.2 billion) for the healthcare sector, and 8.2 percent (AED 4 billion) for public sector wages.

Meanwhile, 6.6 percent (AED3.2 billion) of the budget was allocated to social development, while 3.3 percent (AED1.6 billion) will go towards housing.

Elsewhere in the GCC, Saudi Arabia’s cabinet will discuss and approve the state budget for fiscal year 2017 next Thursday, according to media reported.

Meanwhile, Qatar published its 2017 state budget last week, projecting a deficit of QAR 28.3 billion, and expenditure of QAR 198.4 billion.