Dubai: The state budget for 2016 is AED 46.1 billion
Dubai State budget 2016 increased compared to 2015 by 12% and will have a surplus of $ 3.4 billion UAE dirhams (USD 932 million).
37% of spending allocated to social spending, followed by infrastructure costs, security and law enforcement system. 5% of the budget expenditures will be spent on servicing the debt of Dubai. The budget includes the creation of 3,000 new jobs and provide fiscal incentives needed to stimulate economic growth in the emirate.
Revenues from public services make up 74%. Tax revenues provide 19% of total revenue, including customs fees and taxes paid by foreign banks. Oil revenues accounted for only 6% of government revenue. Dubai managed to get rid of the budget deficit due to the diversification of the economy and less dependent on oil revenues than in the whole region.
