Sharjah sets record 2025 budget at $11.4bn

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Sharjah ruler Dr Sultan bin Mohammed Al Qasimi has approved an AED42 billion ($11.4 billion) budget for 2025, the largest in the emirate’s history.

The budget aims to foster financial sustainability, bolster social welfare and ensure the sustainability of vital resources such as energy, water and food, the UAE state-run Wam news agency reported.

Expenditure is projected to increase 2 percent year on year, with salaries and wages representing 27 percent and operating expenses accounting for 23 percent of the total budget.

Almost 20 percent of the budget has been allocated to capital projects, while 16 percent has been earmarked for loan repayment and interest, a 2 percent rise from the previous year. Support and aid will represent 12 percent of the general budget.

The infrastructure sector dominates the 2025 budget, accounting for 41 percent of total spending, up 7 percent from 2024. The economic development sector followed, making 27 percent of the total budget, while the social development sector took third place with a 22 percent share.

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Public revenues are projected to rise by 8 percent year on year. Operating revenues will constitute 74 percent of the total, a 16 percent annual increase. Capital revenues are expected to represent 10 percent of the total, while tax revenues will account for another 10 percent, a 15 percent year-on-year rise.

Customs revenues are projected to make up 4 percent of total revenues, and oil and gas revenues contributing 2 percent.

Sharjah, one of the seven emirates that makes up the UAE, has a population of 1.8 million, making it the Gulf state’s third most-populous emirate after Dubai and Abu Dhabi.