The Union General Budget Committee held its eleventh meeting to discuss the draft general budget of the Union for the fiscal year 2025, in the presence of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President of the State, Deputy Prime Minister and Head of the Presidential Court, and His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum. First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance.
The meeting, which was held by the committee at Qasr Al Watan in Abu Dhabi, was also attended by His Excellency Mohammed bin Abdullah Al Gergawi, Minister of Cabinet Affairs, His Excellency Mohammed bin Hadi Al Husseini, Minister of State for Financial Affairs, and His Excellency Khaled Mohammed Al Amma, Governor of the Central Bank of the United Arab Emirates, in addition to representatives of the Presidential Office. And the Ministry of Finance.
During its meeting, the committee discussed a number of topics, most notably the draft general budget of the Union for the fiscal year 2025 within the budget plan for the years (2022-2026), in accordance with the coordination conducted by the Ministry of Finance with all federal agencies for the purpose of preparing the general budget of the Union, taking into account developments at the level. The local and global economy, and the necessary measures were taken within the framework of the provisions regulating the preparation of the budget, and its presentation, as contained in Federal Decree Law No. (26) of 2019 regarding public finance, its amendments, and the relevant decisions and recommendations. The committee directed that the necessary procedures be completed to prepare the draft general budget of the Union for the year 2025, and then submit it to the Council of Ministers.
The committee reviewed the federal government’s cash flows for the fiscal year, which included actual revenues collected during the last period of the current fiscal year, and estimates of expected revenues until the end of fiscal year 2025, based on updated revenue forecasts for federal agencies.
The committee reviewed the financial position of the federal government for the fiscal year 2024 in light of the actual expenditures and revenues that occurred during the first half of 2024, as the indicators reflect the extent of growth of the national economy that the UAE is witnessing in various sectors and activities. The committee also reviewed the developments of the approved capital and development projects that were completed during the past months of the fiscal year 2024. It is noteworthy that the Council of Ministers approved the general budget of the Union for the fiscal year 2024, with revenues of 65.728 billion dirhams, and expenses of 64.060 billion dirhams.
#presence #Mansour #bin #Zayed #Maktoum #bin #Mohammed. #Federations #General #Budget #Committee #discusses #Budget #Fiscal #Year