Sharjah Ruler issues law on emirate’s 2018 general budget

SHARJAH– H.H. Dr. Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, has issued Law No. 10 of 2017 concerning the Sharjah Government General Budget for the 2018 fiscal year.

The Law stipulates that the general budget shall take effect from 1st January 2018 to 31st December 2018.

The Law’s articles detailed that the head of the Sharjah Finance Department, SFD, or their representative, may approve the required financial transfers between government bodies’ activities, following the issuance of a request and the review of reasons provided such that said transfers do not adversely affect performance indicators.

According to the Law’s provisions, the Sharjah Executive Council, may, in cases of necessity, undertake decisions regarding expenditures not initially included in the general budget or the transfer of funds between set allocations during the fiscal year.

The law shall come into effect as of 1st January 2018 and shall be published in the Official Gazette.

Source: Emirates News Agency