In keeping with the budget plan for the years 2022–2026, the General Budget Committee convened for its eleventh meeting to discuss the UAE’s draft general budget for the fiscal year 2025.
The Cabinet also approved the federal budget for the fiscal year 2024, which had Dh65.728 billion in revenues and Dh64.060 billion in expenses, during the meeting, which took place at Qasr Al Watan in Abu Dhabi.
In order to prepare the federal budget for 2025 while accounting for changes in the regional and worldwide economies, the Ministry of Finance collaborated with all federal agencies.
The committee instructed that the steps required to prepare the federal budget draft be finished and submitted to the Cabinet.
The required actions were conducted in accordance with Federal Decree-Law No. (26) of 2019 on public finance, its amendments, and the pertinent decisions and recommendations. These provisions govern the preparation and presentation of the budget.
The committee also examined the federal government’s 2024 financial standing in relation to its actual spending and revenue during the first half of the fiscal year. The indicators show how the UAE’s national economy has grown across a range of industries and pursuits.
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