UAE launches 2027-2029 budget cycle with focus on sustainability and AI
'The budget cycle will play a key role in the development of the UAE's public financial system and is part of our government approach driven by proactivity, flexibility and policy integration,' Sheikh Maktoum bin Mohammed, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, said on social media platform X.
The latest budget cycle will focus on vital sectors that directly affect people's lives, including education, health care and social welfare, while empowering federal entities to deliver services to support the objectives of the government's UAE Centennial 2071 plan, he added.
The total value of the federal budget over four consecutive cycles is Dh900 billion ($245 billion), the post said. The value of federal government assets by the end of 2024 reached Dh464.4 billion.
In October last year, the UAE Cabinet approved the general budget of the Emirates for the fiscal year 2025, describing it as the largest in the country's history, with spending estimated at Dh71.5 billion. The Union General Budget Plan for next year also projects revenue at Dh71.5 billion.
In October 2023, the UAE Cabinet approved a federal budget of Dh192 billion for 2024 to 2026.
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