The Financial, Economic and Industrial Affairs Committee of the Federal National Council, during its meeting yesterday, at the headquarters of the General Secretariat of the Council in Dubai, headed by the Chairman of the Committee, Saeed Rashid Al-Abedy, completed a discussion of a draft federal law regarding the adoption of the consolidated final account of the Federation and the final accounts of independent entities attached for the ended fiscal year On 12/31/2020, and a draft federal law related to linking the Federation’s general budget for the 2022 fiscal year, in the presence of representatives of the Ministry of Finance.
The meeting was attended by the Rapporteur of the Committee, Marwan Obaid Al Muhairi, and the members Dr. Tariq Humaid Al Tayer, Aisha Reda Al-Bairaq, Osama Ahmed Al Shafar and Meera Sultan Al Suwaidi, as well as a delegation from the Ministry of Finance headed by the Undersecretary of the Ministry of Finance, Younis Haji Al-Khoury.
During the meeting, the discussion of the articles of the two federal bills related to the revenues and outputs of the final accounts budget of the federal authorities was completed, especially in the matter of governance and resetting the general budget in accordance with the priorities of the federal authorities to meet the needs of society. Views were also exchanged on the observations made by the committee during its discussion of the provisions of the two legal projects.
The draft federal law regarding the approval of the consolidated final account of the Federation and the final accounts of the independent entities attached for the fiscal year ending on 12/31/2020, according to the explanatory note, includes a statement of the implementation of the budget of each federal entity covered by the provisions of Federal Law No. (6) of 2019 regarding linking The general budget of the Federation and the budgets of the independent entities attached to the fiscal year 2020, and the provisions for the final account of the total budgets of the independent federal entities and the consolidated final account of the Federation, while the budget expenditures contained in the Federal Law regarding linking the general budget of the Federation for the fiscal year 2022 were estimated at 58 billion and 931 million dirhams. .
The Chairman of the Committee, Saeed Rashid Al-Abedy, informed «Emirates Today» that the committee directed the preparation of its report on a draft federal law regarding the approval of the consolidated final account of the Federation and the final accounts of the independent entities attached for the fiscal year ending on 12/31/2020, and a draft federal law regarding the budget link The General Assembly of the Federation for the fiscal year 2022, in preparation for their approval and submission to the Council for discussion during the second session of the third ordinary session of the 17th legislative term, which is scheduled to be held on the seventh of next December.