His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, and Chairman of the Presidential Court, presided over the UAE’s General Budget Committee meeting to review the 2024 draft federal budget.
The meeting included attendees such as Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, and Khaled Mohamed Balama, Governor of the Central Bank of the UAE (CBUAE), along with representatives from the Presidential Court and the Ministry of Finance.
During the meeting, the Committee discussed various topics, including the 2024 draft federal budget within the 2022-2026 budget plan, taking into account recent developments and updated financial procedures in accordance with Federal Decree-Law No. (26) of 2019 on Public Finance. They also examined the federal cash flow for the 2023 fiscal year based on current-year expenditures and revenue, as well as projections for the remaining year.
The Committee reviewed the financial performance of the federal government in 2023, highlighting the UAE’s positive economic progress in various sectors. Additionally, the status of approved capital and developmental projects, along with their progress in the current fiscal year, was discussed.
The Committee directed the Ministry of Finance to finalize the necessary procedures for the 2024 federal budget before presenting it for approval to the UAE Cabinet.