Sharjah Ruler Approved The Largest Budget For 2025

Wam reports that spending is up 2% from the 2024 budget, with salaries and wages accounting for 27% and operating expenses 23%.

Sharjah Ruler, Sheikh Dr. Sultan bin Muhammad Al Qasimi approved the emirate’s largest-ever budget for 2025, with Dh42 billion ($11.43 billion) to boost economic growth.

He is the ruler of Sharjah, a city in the United Arab Emirates, and a member of the Federal Supreme Council of the United Arab Emirates. He has been the ruler of Sharjah continuously since January 1972, except for seven days in June 1987 during an attempted coup headed by his older brother Sheikh Abdulaziz bin Mohammed Al-Qasimi.

The report released on Monday by the state news agency Wam reports that spending is up 2% from the 2024 budget, with salaries and wages accounting for 27% and operating expenses 23%.

The allocation for capital projects is still significant at 20%, while the budget for loan repayment and interest has increased by 2% annually to make up for 16% of the total.

The report states that this strengthens the government’s capacity and financial stability to carry out its responsibilities.

Infrastructure accounts for 41% of the overall budget, 7% more than the previous year. Its goal is to attract foreign and domestic investment across various vital areas.

About 27% went into the economic development sector, and 22% went towards the social development sector. The budget gave 10% to government administration, security, and safety. It is an 8% increase from 2024.

The budget anticipates an 8% in public revenue compared to the 2024 figures. Capital revenue will make up 10% of the total while operating revenue will make up 74%.

In 2025, tax revenue will contribute almost 10% of total governmental revenue, a 15% increase from the previous year. About 2% of the total is predicted to come from oil and gas revenue, while 4% is expected from customs revenue.

The report states that the government has placed a strong emphasis on increasing public revenue by optimizing the credit and collections process and implementing advanced technological and smart tools.

The report adds that the overall goals of the budget are to support social welfare for all citizens, maintain a decent standard of living, and encourage financial sustainability.

It also aims to improve the infrastructure of tourists by providing hospitable housing throughout the city of Sharjah. It seeks to increase the ability of government organizations to finance their strategic plans and projects.

The budget also includes strategic targets to boost the Emirates economy through discounts and a review of various service fees to lower the expenses of investors and customers. It seeks to increase the jobs created in the public and private sectors.

According to the report, it also aims to strengthen the government’s capacity to handle regional and global issues that affect economies all over the world, such as inflation, growing interest rates, economic downturns, and geopolitical conflicts.

According to a May report by Sharjah’s Department of Statistics and Community Development, the nonoil sector increased by 7.1% annually, driving the city’s gross domestic product (GDP). It increased by 6.5% last year to about Dh145.2 billion.

According to the Wam report, various development tools and innovative funding strategies for the 2025 general budget have been implemented to explore the best possible funding sources to secure financial sustainability for the government both internally and externally.

The government is also carrying out a digital transformation plan for financial services, which includes upgrading its electronic payment and collection methods.

These efforts improve the ability of government agencies to streamline processes and minimize red tape.

It will ultimately lead to a significant improvement in the financial system of the emirate, it stated.