Sheikh Sultan bin Ahmed said that the Sharjah Government’s budget for 2023 mainly aims to support sustainable development, achieve financial sustainability, increase competitiveness and advance government services….reports Asian Lite News
Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, approved the emirate’s general budget for 2023 with total expenditures amounting to nearly AED32.2 billion.
The general budget for this year aims to achieve financial sustainability and enhance the economic competitiveness of the emirate.
While expenditures decreased by 12 percent from the 2022 budget, it does not affecting the most critical areas, including employment and economic and social development, according to Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah.
Sheikh Sultan bin Ahmed said that the Sharjah Government’s budget for 2023 mainly aims to support sustainable development, achieve financial sustainability, increase competitiveness and advance government services.
The budget for the new year will continue the process of development and progress, he added, while noting that previous years have witnessed valuable achievements and the new budget will add to them.
Sheikh Sultan bin Ahmed stressed that the emirate’s new budget considers all social, health, educational, knowledge, cultural and media services, as well as infrastructure, investment and tourism, through a package of initiatives, projects and activities covering all sectors.
It also prioritises the interests of citizens, residents, visitors and tourists, through a range of services and infrastructure projects, he further added.
Sheikh Mohammed bin Saud Al Qasimi, Head of the Central Finance Department in Sharjah, indicated that the general budget of the emirate has adopted many strategic and financial goals and priorities. This reflected the lofty directives of the Ruler of Sharjah and his comprehensive and renewed vision, the directives of the Executive Council and the strategic vision of the Central Finance Department.
Waleed Al Sayegh indicated that the general budget decreased by 12 percent compared to the 2022 budget. However, the government continued to support the capital projects budget to ensure continuity in meeting the spending needs on these projects in 2023, as this budget constitutes 14 percent of the general budget. As for salaries and wages, they constituted 28 percent of the general budget for 2023. The same applies to operating expenses, which constituted 30 percent for 2023 with a decrease of four percent compared to the 2022 budget.
As for the government’s general revenues, at a time when these revenues constitute the primary source of financing the general budget, the government has taken an exceptional interest in developing these revenues, improving collection efficiency, and developing smart and technical tools and methods that enhance this trend. Moreover, it is clear from the analysis of public revenue trends, that operational revenues are 69 percent of the total revenue budget for 2023, an increase of 11 percent over the operating revenues for 2022.
The percentage of capital revenues reached 11 percent for 2023, while tax revenues constituted about 10 percent of total public revenues, with an increase of about 48 percent over tax revenues for 2022. In the same direction, customs revenues accounted for four percent, an increase of about four percent over 2022. Oil and gas revenues constituted about six percent of the total revenue budget for 2023, with an increase of about 96 percent compared to 2022.