Dubai – Mubasher: The UAE cabinet on Sunday has approved a union budget of AED 180 billion over the coming three years, Sheikh Mohammed bin Rashid Al Maktoum, the country’s vice president and prime minister, said on Twitter.
This budget will be the biggest in the history of the union, Al Maktoum, who doubles as the ruler of Dubai, confirmed, noting that it is projected to come without a deficit.
Around 59% of the budget will be allocated for education and community development, he added.
Moreover, the cabinet approved a new federal law for opening up the space sector to investment, research, and partnerships.
The UAE Space Agency has been preparing a full-fledged strategy to invest in the GCC country’s space sector in cooperation with relevant authorities.
