HE Dr. Mohamed Khalfan bin Khirbash, UAE Minister of State for Finance and Industry, said: "For the first time in over 20 years, and based on the recommendations of the Financial and Economic Committee, under chairman HH Sheikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance and Industry, the national budget has been rebalanced.
"This was achieved by increasing the efficiency of government operations and therefore the levels of financial resources available, while maintaining the high quality of government service provision," he said.
At a Ministry of Finance and Industry press conference, HE Khalid Ali Al Bustani, Undersecretary for Budget and Revenues, highlighted steps taken by the Ministry of Finance and Industry to implement a balanced budget in 2005:
• Revision of all estimated revenues for 2005 based on analysis of 2004 revenues.
• Revised expenditures in 2005 based on the expenditures of the past three years with the following exceptions:
• Expenditures related to basic and higher education increased, with the number of government-sponsored students sent abroad to rise by 500 students to 1,257 in 2005.
• Number of schools budgeted in 2005 is 1,106 with 432,450 students and 34,210 teachers.
• Provision for nationwide expansion in the health sector. The number of hospitals is 16, in addition to 80 healthcare centers and 444 healthcare facilities. In total, there are 3,049 beds and 1,331 doctors.
• Maintenance of social service provision to nationals, including current levels of support to community services, farmers, fishermen and the Marriage Fund.
• Maintenance of residential support through the Sheikh Zayed Housing Programme.
• Maintenance of support for fixed capital expenditure to complete budgeted projects for schools, health centers, security facilities, courts, embassies and diplomatic missions, roads and upkeep of government buildings.
• Continued funding of the construction of new embassies and diplomatic missions, including five new diplomatic missions approved in 2004 budget.
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UAE federal budget approved at AED 22.7 billion
- United Arab Emirates: Tuesday, February 22 - 2005 at 08:11
- PRESS RELEASE
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The UAE Cabinet approved the federal national budget presented by the Ministry of Finance and Industry with total spending amounting to AED 22.7 billion and a zero deficit for the first time in two decades.
HE Dr. Mohamed Khalfan bin Khirbash, UAE Minister of State for Finance and Industry.
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Posted by Anne-Birte Stensgaard, Senior News EditorTuesday, February 22 - 2005 at 08:11 UAE local time (GMT+4)
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This article was updated on Mon Mar 21 2005.
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