Sheikh Mohammed Bin Rashid Al Maktoum.
Gulf Today, Staff Reporter
His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, has adopted a historic budged for the next three years on Sunday.
The Dubai Ruler took to Twitter and said, “Adopted a 3-year budget cycle from 2020 to 2022, with a total expenditure of Dhs196 billion, as a continuation of the Dubai government’s approach to boosting the emirate’s overall economy.”
Sheikh Mohammed said, “The budget for the financial year 2020 is the largest in the history of Dubai, at Dhs66.4 billion, to meet the emirate’s aspirations to stimulate the overall economy and establish Expo 2020 Dubai as one of the most prominent editions to be held in the history of the World Expo.”
Dubai’s budget for the financial year 2020, at AED66.4 billion, will continue to focus on social services, which include healthcare, education, culture initiatives and social housing, in addition to developing the social benefits fund to support and stimulate families.
Kast week, Sheikh Mohammed approved the issuing of a Federal Law on Consumer Protection which comes in light of the government endeavours to achieve the continuous development of the legislation that affects the lives of UAE citizens and residents alike, and in a manner that guarantees the protection of consumers and stability of prices in accordance with the best practices.
The Law is in line with the Gulf Cooperation Council Countries’, GCC, Unified Law on Consumer Protection, in a manner that ensures legislative integration between GCC Countries. The Law aims to continue providing adequate protection to consumers in light of the technological advancement and accelerated growth seen by the electronic commerce. The Law also ensures the delivery of goods and services according to production and distribution patterns tailored to consumers’ needs and limits any practices that may have negative impacts on consumers.