The cabinet of the United Arab Emirates, chaired by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, approved on Monday the federal budget 2023-2026, with a total estimated expenditure of AED 252.3 billion and estimated revenues of AED 255.7 billion.
A budget for the year 2023 has been allocated, with total estimated expenses of AED 63.066 billion, and total estimated revenues presented for approval amounted to AED63.613 billion, reported the state news agency WAM.
Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance, noted that the government prioritizes the prosperity of the people of the UAE.
He noted that under the leadership of President Sheikh Mohamed bin Zayed Al Nahyan, and the directives of Sheikh Mohammed bin Rashid Al Maktoum, the UAE has laid solid foundations for the government work system to accelerate advancing sustainable development.
Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum said: “The federal budget is an essential pillar in the UAE’s development process, and the directives of our wise leadership help us achieve our development and social requirements for the coming years.”
He emphasized that the federal budget is subject to continuous reviews in order to keep pace with all changes, trends, and directives.
“Our goal is to ensure that the Federal Government operates with the highest standards of financial efficiency,” he added.
“The financial resources of the federal budget are sustainable, and the budget’s main objective is to strengthen the Federal Government in pursuit of its developmental, economic, and social goals,” he stressed.
