Government spends $ 922 million on water and electricity projects in 2018

Gulf 365 Monitoring – Abu Dhabi – Abu Dhabi: 1965-19003 The Federal Government has allocated 922 million AED Electricity and Water Sector Within federal projects in the federal budget for 2018, the estimated expenditures for these projects are estimated at $ 922 million. amount to 3.6 billion dirhams. The country's water and electricity sector is one of the most important sectors of the national economy. The federal government and local governments attach particular importance to this sector, which depends on all economic sectors.
The Council of Ministers approved in October 2016 the draft general budget of the Union The term budget for the years 2017-2021 with an estimated expenditure of 247.3 billion dirhams for five years to become the UAE, the first Arab country to prepare a budget for five years
Preparation of the draft budget in the form of periodic plans every 5 years to develop the level of social services And focus on increasing the level of Smart government services and increased customer satisfaction with the federal government's efforts to ensure prosperity, prosperity, happiness and security to community members.
On the other hand, the banking sector has shown great importance for the water and electricity sector in the country, which has provided good financing opportunities for banks during the current year. According to the latest banking data released by the Central Bank last May, banks have increased the volume of financing of this vital sector from 2.16 billion dirhams from the beginning of the year until the end of March with a growth of 12.94%. Last May