H.H. Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, has issued on Sunday law No. 1 of 2020, on the general budget of the Emirate of Sharjah for the fiscal year 2020.

The new Law stipulates that Sharjah’s 2020 general budget shall take effect from 1st January 2020 to 31st December 2020.

In its second article, the Law authorises the Chairman of Sharjah Finance Department or his representative to approve the required financial transfers between the activities of the government agencies, upon their request and after studying the justifications presented, and so that it does not negatively affect the performance indicators of the activities of the agencies that were transferred from them.

The Law empowers the government agencies to conduct financial transfers between the chapters and items of a single activity at a rate of 100%, except for the first Chapter.

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 is effective from January 1st 2020, and shall be published in the Official Gazette.