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His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, chaired a meeting of the General Budget Committee, which was held at Qasr Al Watan. During the meeting, the committee discussed the UAE’s draft general budget for the 2022-2026 period, in addition to the procedures carried out by the the Ministry of Finance (MoF) to draft the general budget of the Union for the 2022 fiscal year, in accordance with Federal Decree-Law No. (26) of 2019 on Public Finance.
The meeting also reviewed projections of federal cash flows for the 2022-2026 period, based on the revenue estimates developed by concerned federal entities relating to their proceeds and expenditures.
The committee directed the MoF to complete drafting five-year budget as per the approved strategic objectives, in line with the UAE’s next 50-year vision.
Other agenda topics included the financial position of the federal government for the current fiscal year, based on actual expenses and revenues collected during the first half of the year, which indicate a significant improvement due to the UAE’s post-pandemic economic recovery, seen across vital sectors in the country.
The meeting was attended by H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation; Mohammad bin Abdullah Al Gergawi, Minister of Cabinet Affairs; Dr. Anwar bin Mohammed Gargash, Minister of State for Foreign Affairs; Obaid bin Humaid Al Tayer, Minister of State for Financial Affairs; Khaled Mohamed Balama Al Tameemi, Governor of the UAE Central Bank, and MoF representatives.