The UAE’s General Budget Committee recently held its eleventh meeting to review the draft general budget for the fiscal year 2025, part of the broader budget plan for 2022-2026.
The session, hosted at Qasr Al Watan in Abu Dhabi, also saw the Cabinet’s approval of the federal budget for 2024, detailing revenues of AED 65.728 billion and expenditures of AED 64.060 billion.
The Ministry of Finance, in coordination with all federal entities, prepared the budget for 2025, considering both local and global economic trends. This preparation follows the guidelines established in Federal Decree-Law No. (26) of 2019 on public finance, along with its amendments and relevant recommendations.
During the meeting, the committee reviewed the federal government’s financial status for 2024 based on actual expenditures and revenues from the first half of the fiscal year. These indicators highlight the UAE’s economic growth across various sectors. Additionally, the committee was updated on the progress of approved capital and developmental projects completed in 2024.
Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, and Chairman of the Presidential Court, and Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance, were present at the meeting.
Other attendees included Mohammad bin Abdullah Al Gergawi, Minister of Cabinet Affairs; 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.
The committee directed that the necessary procedures for preparing the draft federal budget be completed and then submitted to the Cabinet for final approval. This ensures that the budget aligns with the strategic economic goals of the UAE and supports its continued growth and development.
