PEARSON PLC ORD 25P  PSON.L 
$1,026.50  $0.5  0.05%  
DIAGEO PLC ORD 28 101/108P  DGE.L 
$2,514.00  $17.50  0.70%  
RECKITT BENCKISER GROUP PLC ORD  RKT.L 
$4,419.00  $74.00  1.65%  
LLOYDS BANKING GROUP PLC ORD 10  LLOY.L 
$59.12  $0.54  0.91%  
MELROSE INDUSTRIES PLC ORD GBP0  MRO.L 
$548.00  $8.20  1.47%  
FRESNILLO PLC ORD USD0.50  FRES.L 
$584.99  $22.01  3.63%  
NATWEST GROUP PLC ORD 107.69P  NWG.L 
$331.70  $5.80  1.72%  
WEIR GROUP PLC ORD 12.5P  WEIR.L 
$1,862.46  $50.54  2.64%  
STANDARD CHARTERED PLC ORD USD0  STAN.L 
$702.00  $19.40  2.69%  
ENDEAVOUR MINING PLC ORD USD0.0  EDV.L 
$1,730.00  $76.00  4.21%  
OCADO GROUP PLC ORD 2P  OCDO.L 
$414.30  $3.20  0.78%  
ANGLO AMERICAN PLC ORD USD0.549  AAL.L 
$2,205.00  $17.00  0.77%  
ASHTEAD GROUP PLC ORD 10P  AHT.L 
$5,092.00  $150.00  2.86%  
SEGRO PLC ORD 10P  SGRO.L 
$890.40  $10.80  1.20%  
BAE SYSTEMS PLC ORD 2.5P  BA.L 
$1,235.00  $24.50  1.95%  
VODAFONE GROUP PLC ORD USD0.20   VOD.L 
$69.52  $0.92  1.31%  
HSBC HOLDINGS PLC ORD $0.50 (UK  HSBA.L 
$652.20  $10.80  1.63%  
GLENCORE PLC ORD USD0.01  GLEN.L 
$424.05  $9.30  2.15%  
ROLLS-ROYCE HOLDINGS PLC ORD SH  RR.L 
$430.60  $13.30  3.00%  
UNITE GROUP PLC ORD 25P  UTG.L 
$910.00  $12.00  1.30%  
ANTOFAGASTA PLC ORD 5P  ANTO.L 
$1,896.23  $49.77  2.56%  
CRODA INTERNATIONAL PLC ORD 10.  CRDA.L 
$3,996.00  $63.00  1.55%  
KINGFISHER PLC ORD 15 5/7P  KGF.L 
$271.20  $6.30  2.27%  
SPIRAX GROUP PLC ORD 26 12/13P  SPX.L 
$8,565.00  $65.00  0.75%  
TAYLOR WIMPEY PLC ORD 1P  TW.L 
$152.85  $3.75  2.39%  
WPP PLC ORD 10P  WPP.L 
$715.60  $25.80  3.48%  
RIO TINTO PLC ORD 10P  RIO.L 
$4,883.50  $54.00  1.09%  
HOWDEN JOINERY GROUP PLC ORD 10  HWDN.L 
$908.00  $39.50  4.17%  
MONDI PLC ORD EUR 0.22  MNDI.L 
$1,537.00  $17.00  1.09%  
HARGREAVES LANSDOWN PLC ORD 0.4  HL.L 
$1,090.50  $5.50  0.50%  
BARRATT DEVELOPMENTS PLC ORD 10  BDEV.L 
$497.80  $8.80  1.74%  

Sharjah Ruler Approves Ambitious 2024 Budget

by Rahil M
0 comment

Sharjah’s fiscal strategy pivots on augmenting public revenue by 5% in 2024

In a significant move aimed at fortifying Sharjah’s economic and social landscape, His Highness Sheikh Dr Sultan bin Mohammed Al Qasimi, the Supreme Council Member and Ruler of Sharjah, has greenlit the emirate’s most extensive general budget to date. The budget for 2024 stands at approximately Dh40.832 billion, signalling a robust commitment to enhancing the emirate’s overall well-being and development.

Financial Commitment to Social Welfare and Development

The newly approved budget underscores a 16% surge in expenditures compared to the previous year, manifesting a strategic approach to elevate social welfare, security, and critical resource sustainability. A pivotal aspect of this financial blueprint is its unwavering focus on upholding a respectable living standard for the emirate’s residents.

Sectoral Breakdown –

Infrastructure and Economic Development:

Infrastructure emerges as a significant beneficiary, securing 40% of the total budget – a marked 26% increase from 2023. Following closely is economic development, receiving 30% of the allocation, an 8% uptick from the prior year, underscoring Sharjah’s commitment to economic diversification and growth.

Social and Government Sectors:

Reflecting a dedication to its populace, the budget allocates 21% to social development, enhancing services and support mechanisms for citizens and residents. Moreover, a notable 41% surge directs funds toward government administration and safety, further solidifying Sharjah’s governance infrastructure.

Revenue Projections and Fiscal Strategy

Sharjah’s fiscal strategy pivots on augmenting public revenue by 5% in 2024. Operating revenues are projected to constitute a substantial 71% of the total revenue, an 8% escalation from the previous fiscal cycle. Meanwhile, capital revenues will account for 11%, with tax revenues, custom revenues, and oil and gas revenues making up 9%, 4%, and 5%, respectively.

2023-2030 Financial Roadmap

Aligned with the 2023-2030 financial plan, Sharjah’s 2024 budget aims to navigate economic complexities, safeguarding the interests of citizens, residents, and institutions alike. A concerted effort is in place to optimize spending, prioritizing sectors instrumental to competitiveness and financial sustainability. This forward-thinking approach is pivotal in mitigating global and regional economic challenges such as inflation, high-interest rates, and economic downturns.

Royal Endorsements and Strategic Direction

Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, the Crown Prince and Deputy Ruler of Sharjah, lauded the adoption of this monumental budget. Emphasizing its role in steering Sharjah’s civilization and development trajectory, he highlighted the budget’s alignment with human development objectives, ensuring a prosperous life for Emirati families.

Moreover, Sheikh Mohammed bin Saud Al Qasimi, Chairman of the Sharjah Finance Department, accentuated the budget’s strategic imperatives. His insights shed light on the budget’s multifaceted objectives, echoing the visionary directives of Sharjah’s leadership and the Finance Department’s strategic vision.

Empowering the Private Sector

In a bid to invigorate the private sector, the budget introduces pivotal stimulus packages. These initiatives are meticulously designed to amplify the private sector’s role as a catalyst for growth, innovation, and economic resilience. The strategy further encompasses fostering strategic partnerships, thereby enriching Sharjah’s economic landscape and reinforcing its global standing.

Sharjah’s 2024 budget stands as a testament to the emirate’s unwavering commitment to progress, development, and societal well-being. Through meticulous sectoral allocations, revenue diversification strategies, and a visionary 2023-2030 financial roadmap, Sharjah is poised to navigate contemporary economic challenges, ensuring sustained growth, prosperity, and high quality of life for its residents.

You may also like

Leave a Comment

Subscribe to Our Newsletters

We are a UK-based business awards firm that specializes in recognizing and celebrating exceptional achievements across various sectors. Our team of experts is dedicated to delivering world-class services, including event management, judging, and award design. With a focus on quality and excellence, we aim to showcase the best of international businesses and inspire future success.

Contact us: [email protected]

© 2022 – The Business Pinnacle. All Right Reserved. Developed by Aapta

The Business Pinnacle