Latest News

Dubai approves 2025-27 budget with $74 bln in expenses, ruler states

Dubai approved a 20252027 spending plan on Tuesday with 272 billion dirham ($ 74.06 billion) of expense, the greatest in the emirate's history, against incomes of 302 billion dirhams, its ruler, Sheikh Mohammed bin Rashid alMaktoum, said in a post on X.

Dubai, among the 7 emirates of the United Arab Emirates and a regional trade and tourist center, assigned 46% of its investing to facilities projects, consisting of roadways, bridges, and water drain networks.

The Gulf city said in June that it would invest 30 billion dirhams ($ 8.2 billion) to enhance its

rainwater drain system

, after it was struck in April by the heaviest rainstorms taped in the UAE in 75 years.

The facilities spending also consists of a new airport. Sheikh Mohammed authorized in April the airport's new passenger terminal, which is worth 128 billion dirhams ($ 35 billion).

Al Maktoum International Airport

will be the biggest on the planet

with a yearly capability of up to 260 million travelers, and will be 5 times the size of Dubai International Airport, which is currently among the world's busiest, the sheikh stated at the time.

Sheikh Mohammed said 30% of the budget would be spent on health, education, and other civil services.

He added that next year's budget plan would achieve an operating surplus of 21% of overall earnings for the very first time.

(source: Reuters)