Sharjah Ruler gives green light to largest-ever budget: Sharjah Ruler Sheikh Sultan bin Mohammad Al Qasimi has approved a AED 40.83 bn budget for the emirate in 2024, making it the largest in Sharjah’s history, WAM reports. The final spending plan sets out a 16% y-o-y increase in expenditure compared to 2023’s budget of AED 32.3 bn.

Here’s how it breaks down:

  • Infrastructure: 40%
  • Economic development: 30%
  • Social development: 21%
  • Support and assistance: 12%
  • Government administration and public safety: 9%

The Sharjah government also included incentive packages for the private sector, as it pushes forward with its strategic plan to encourage private sector activity in the economy .

Revenues expected to grow: The Sharjah gov’t expects operational revenues to represent 71% of the total 2024 revenue, up 5% y-o-y. Capital revenues are projected to increase by 11%, tax revenues by 9%, customs revenues by 4%, and oil and gas revenues by 5%.

Wage expenditure is up: Wages and salaries will make up 26% of the 2024 budget, while operating expenses are expected to take up 25%. The Sharjah government also earmarked 15% of the spending plan for loan repayments and interest.

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