UAE Cabinet approves 2021 federal budget

The UAE Cabinet has approved a federal budget of AED 58 billion for 2021.

The plan was endorsed during a Cabinet meeting chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.

"Our vital national projects will continue in 2021... and their development will remain a priority," Sheikh Mohammed said on Twitter.

"The government has dealt with the 2020 budget efficiently...and it has all the tools to continue its financial and operational efficiency in 2021," His Highness added.

.@HHShkMohd: The #UAE economy will be among the fastest to recover in 2021, and the government has dealt with the 2020 budget efficiently and has all the tools to continue its financial and operational efficiency in 2021. It will be a better and more efficient year for all. pic.twitter.com/8WgSZs2kTR

— Dubai Media Office (@DXBMediaOffice) November 1, 2020

.@HHShkMohd: The #UAE Cabinet has approved the budget for 2021 with an estimated expenditure of AED 58 billion. Work on vital national projects will continue in 2021 and their development will remain a priority. pic.twitter.com/SWOd0oMcBm

— Dubai Media Office (@DXBMediaOffice) November 1, 2020

During the meeting, the Cabinet also approved the ratification of economic agreements with six new countries in the African continent.

.@HHShkMohd: The #UAE Cabinet also approved the ratification of six international economic agreements with six new countries in the African continent. Our relations with Africa are on the rise and we are among the largest global investors in its economic path. pic.twitter.com/hXAKFNJEbQ

— Dubai Media Office (@DXBMediaOffice) November 1, 2020