His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Chairman of the Presidential Court, chaired the periodical meeting of the UAE’s federal General Budget Committee to review the draft federal general budget for the 2024 fiscal year.

The meeting was attended by Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs; and Khaled Mohamed Balama, Governor of the Central Bank of the UAE (CBUAE); in addition to representatives of the Presidential Court and the Ministry of Finance.

The Committee discussed several topics, including the draft federal general budget for the 2024 fiscal year, as part of the 2022-2026 budget plan, in light of recent developments and the Ministry of Finance’s updated procedures developed in accordance with Federal Decree-Law No. (26) of 2019 on Public Finance.

It also reviewed the federal cash flow for the 2023 fiscal year, building on the actual expenditures and revenues recorded during the current financial year and revenue projections for the remainder of the year.

The Committee discussed the financial position of the federal government during 2023, which highlights the UAE’s upward trajectory across various economic sectors and activities.

Also on the agenda were the latest developments in the UAE’s approved capital and developmental projects and the progress made in their implementation during the current fiscal year.

The Committee directed the Ministry of Finance to complete the procedures related to the 2024 federal budget before presenting it to the UAE Cabinet for approval.