UAE approves $49bln federal budget for next three years: Sheikh Mohammed bin Rashid | ZAWYA MENA Edition:
The United Arab Emirates cabinet on Sunday approved a big increase in the federal budget for next year, in a sign that the government aims to spend more actively to boost economic growth.
The 2019 federal budget of 60.3 billion dirhams ($16.4 billion) is 17.3 percent higher than the 51.4 billion dirhams approved for 2018, and is the UAE's largest ever, Prime Minister Sheikh Mohammed bin Rashid al-Maktoum said on Twitter.
The federal budget accounts for only a small fraction of consolidated state spending in the UAE; individual emirates such as Abu Dhabi and Dubai also have their own budgets.
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