Abu Dhabi upping housing supplies and food subsidies
The Abu Dhabi government has announced a series of spending projects aimed at providing jobs and an affordable cost of living for its citizens. Oil-rich Abu Dhabi accounts for about 74% of fiscal spending in the UAE, and this year plans on subsidizing food and household items, energy, and housing for Emiratis. Abu Dhabi hopes to avoid the social unrest plaguing other countries in the region by ensuring their citizens are well cared for.
Abu Dhabi also announced more than $2 billion in housing loans for UAE citizens, and $2.5 billion in construction projects again only for UAE citizens. The UAE government will also spend an estimated $1.6 billion on water and electricity projects in the northern, less developed Emirates. They will also roll out training programs to help quash unemployment in a country where only 7% of citizens work in the private sector. Efforts are underway to phase in more private sector positions, though, as an estimated 20,000 young Emiratis will soon enter the workforce a year.
The Abu Dhabi government has announced a series of spending projects aimed at providing jobs and an affordable cost of living for its citizens. Oil-rich Abu Dhabi accounts for about 74% of fiscal spending in the UAE, and this year plans on subsidizing food and household items, energy, and housing for Emiratis. Abu Dhabi hopes to avoid the social unrest plaguing other countries in the region by ensuring their citizens are well cared for. Abu Dhabi also announced more than $2 billion in housing loans for UAE citizens, and $2.5 billion in construction projects again only for UAE citizens. The...
The Abu Dhabi government has announced a series of spending projects aimed at providing jobs and an affordable cost of living for its citizens. Oil-rich Abu Dhabi accounts for about 74% of fiscal spending in the UAE, and this year plans on subsidizing food and household items, energy, and housing for Emiratis. Abu Dhabi hopes to avoid the social unrest plaguing other countries in the region by ensuring their citizens are well cared for.
Abu Dhabi also announced more than $2 billion in housing loans for UAE citizens, and $2.5 billion in construction projects again only for UAE citizens. The UAE government will also spend an estimated $1.6 billion on water and electricity projects in the northern, less developed Emirates. They will also roll out training programs to help quash unemployment in a country where only 7% of citizens work in the private sector. Efforts are underway to phase in more private sector positions, though, as an estimated 20,000 young Emiratis will soon enter the workforce a year.
