Sheikh Mohammed approves Dh302.7 billion (~$83 billion) Dubai budget for 2026–2028, targeting GDP growth/Image: X
Dubai is embarking on its most ambitious financial plan yet, with Sheikh Mohammed bin Rashid Al Maktoum approving a record Dh302.7 billion budget for 2026–2028. Designed to fuel economic growth, enhance infrastructure, and boost social development, the three-year plan projects revenues of Dh329.2 billion and positions Dubai to move closer to its goal of becoming one of the world’s top three urban economies.
Overview of the 2026–2028 budget cycle
Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, approved Dubai’s general budget for the fiscal years 2026 to 2028. This historic three-year cycle sets total expenditures at Dh302.7 billion ($83 billion) and total revenues at Dh329.2 billion ($90 billion), resulting in an operating surplus of 5 per cent.For the fiscal year 2026 alone, the budget earmarks Dh99.5 billion in expenditures against Dh107.7 billion in revenues, with a general reserve of Dh5 billion to ensure fiscal stability.
Strategic allocation of expenditures
The budget distributes spending across key sectors to balance growth, stability, and social welfare:
- Infrastructure and construction projects: 48% of total expenditure
- Social development sector: 28%
- Security, justice, and safety sector: 18%
- Government development initiatives: 6%
This allocation demonstrates Dubai’s focus on enhancing infrastructure, maintaining public safety, and promoting social programs, while continuing government capacity building to support long-term growth.
Vision and economic objectives
Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum highlighted that the budget aligns with the emirate’s strategic ambitions, particularly:
- Doubling Dubai’s GDP by 2033
- Positioning Dubai among the top three global urban economies
The three-year financial plan is designed to support the Dubai Economic Agenda D33, which targets accelerating the growth of critical sectors and consolidating Dubai’s role as a global commercial, financial, and leisure hub. Sheikh Hamdan emphasized that the budget provides a framework to balance ambitious growth with economic stability, ensuring sustainable development across the emirate.
Implications for the emirate’s economy
The record budget demonstrates Dubai’s proactive approach to long-term economic planning. By committing nearly Dh303 billion over three years, the emirate signals its readiness to:
- Expand vital infrastructure and construction projects
- Strengthen social and community services
- Enhance security and justice frameworks
- Invest in government development programs
With projected revenues exceeding expenditures, the budget reflects a healthy financial outlook, allowing Dubai to continue leading regional innovation and attracting international investment. Go to Source
