His Highness Sheikh Dr. Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, has approved the emirate's general budget for FY 2025, which rose to AED42 billion ($11.4 billion), the largest in the northern emirate's history.

 

This budget aims to foster financial sustainability, uphold a decent standard of living, and promote social welfare for all residents. Additionally, it seeks to strengthen social security, enhance safety measures and ensure the sustainability of vital resources such as energy, water, and food, reported Wam.

 

The budget aims to strengthen government agencies' capacity to fund their strategic initiatives and projects, ensure appropriate housing for diverse groups of citizens across Sharjah, and enhance the tourism infrastructure. 

 

These efforts are designed to boost cultural, recreational, and social tourism, ultimately increasing this crucial sector's contribution to sustainable economic development.

 

For 2025, the infrastructure sector takes the lead, accounting for 41% of the total general budget. This marks a 7% increase compared to the 2024 budget, showcasing the government's strong commitment to enhancing the emirate's infrastructure. 

 

This focus serves as a key pillar for sustainable development and aims to attract both foreign and local investments across various vital sectors.

 

The economic development sector ranks second in terms of relative significance, making up approximately 27% of the total general budget for 2025.

 

Meanwhile, the social development sector holds third place, accounting for about 22% of the total general budget for 2024. This sector has maintained its importance relative to the overall budget compared to 2024, ensuring that we provide the best possible services, support, and assistance to both citizens and residents in the emirate.

 

Furthermore, the government administration, security, and safety sector constitute about 10% of the total general budget for 2025, reflecting an increase of 8% from the 2024 budget, said the Wam report.

 

The government has placed a strong emphasis on boosting public revenues by enhancing collection efficiency and adopting advanced technical and smart tools. The 2025 budget indicated a notable 8% increase in public revenues compared to the 2024 figures. 

 

Operating revenues will account for 74% of the total revenue budget for 2025, reflecting a significant 16% increase over the prior year's operating revenues. Meanwhile, capital revenues are projected to represent 10% of the total for 2025.

 

The figures from the general budget for 2025 revealed a 2% increase in expenditures compared to the 2024 budget. In this budget, salaries and wages make up 27%, while operating expenses account for 23%.

 

The government has continued its commitment to capital projects, ensuring that this budget remains significant at 20% of the total. Additionally, the budget for loan repayments and interest has risen by 2% to constitute 16% of the overall budget for 2025, reinforcing the government's capability and financial stability in fulfilling its obligations, stated the report.

 

On the other hand, the budget for support and aid represents about 12% of the general budget, with capital expenditures comprising roughly 2% of the total for 2025.

 

Classifying the budget based on economic sectors is a crucial tool that reflects the government's strategic direction. 

 

Tax revenues are set to contribute approximately 10% of the overall public revenues for 2025, marking a 15% rise compared to the 2024 tax revenue projections. Additionally, customs revenues are expected to account for 4% of the total, maintaining this figure relative to its importance in the previous year.

 

Finally, oil and gas revenues will make up about 2% of the total revenue budget for 2025.

 

Guided by the directives of HH the Ruler of Sharjah, the emirate's budget aims to foster a decent quality of life for citizens and residents, reported Wam. 

 

The budget aims to accomplish several key objectives. Foremost among these is the enhancement of investment in infrastructure alongside economic, social, cultural, and tourism initiatives that boost the emirate's competitiveness and ensure its financial sustainability.

 

The budget also focused on providing social support in various forms to meet citizens' diverse needs and guarantee a decent quality of life.

 

Moreover, it emphasised creating job opportunities in both public and private sectors. Special attention is given to developing the skills and capabilities of citizens seeking employment, equipping them with valuable entrepreneurial skills to thrive in practical settings.

 

Sheikh Mohammed bin Saud Al Qasimi, Chairman of the Sharjah Finance Department, emphasised that the emirate's general budget encompasses a range of strategic and financial goals that resonate with the ambitious directives of the Ruler of Sharjah.

 

"The budget also focused on enhancing the emirate's competitiveness across various economic, social, and infrastructure domains, while ensuring ample support for government agencies to deliver services that meet international standards," stated Al Qasimi. 

 

Performance indicators from the budget are tailored to measure these standards effectively. Furthermore, there is a strong emphasis on bolstering strategic partnerships with the private sector, providing ongoing support to ensure its continuous growth and advancement within the emirate, he added.