Attended by Mansour bin Zayed and Maktoum bin Mohammed, General Budget Committee discusses draft budget for fiscal year 2026
ABU DHABI (WAM)The General Budget Committee has held its 13th meeting to discuss the draft general budget of the UAE for the fiscal year 2026.Held at Qasr Al Watan in Abu Dhabi, the meeting was attended by His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Chairman of the Presidential Court; His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance; and His Highness Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs.Also present were Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs; and Khaled Mohamed Balama Al Tameemi, Governor of the Central Bank of the UAE (CBUAE), in addition to representatives of the Presidential Court and the Ministry of Finance.During its meeting, the committee discussed a number of topics, including the draft general budget for the fiscal year 2026 as part of the budget plan for the years 2022-2026. This was done in accordance with the coordination carried out by the Ministry of Finance with all federal entities for the purpose of preparing the federal budget, taking into account developments in the local and global economic landscape.All necessary procedures were undertaken in line with the provisions governing the preparation and presentation of the budget, as outlined in Federal Decree-Law No. (26) of 2019 on Public Finance, its amendments, and the relevant decisions and recommendations.The committee directed that the necessary procedures be completed for preparing the draft federal budget for the year 2026, to be subsequently submitted to the Cabinet. It also reviewed the budget proposals submitted by various federal entities for the 2026 fiscal year.Additionally, the committee reviewed the financial position for fiscal year 2025, taking into account cash inflows and outflows recorded during the first half of the year, along with the projected outlook for fiscal year 2026.The projections were driven by updated revenue forecasts and expenditure estimates submitted by federal entities, reflecting sustained recovery across key economic sectors and positive national growth indicators.The committee recommended taking the necessary measures accordingly.
The committee commended the Ministry of Finance's efforts in updating the draft budget for the fiscal year 2026 and for its effective coordination with federal entities throughout the preparation process.
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