Abu dhabi: The General Budget Committee has convened for its 13th meeting to deliberate on the UAE’s draft general budget for the fiscal year 2026. The meeting, held at Qasr Al Watan in Abu Dhabi, was graced by the presence of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Chairman of the Presidential Court; H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance; and H.H. Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs.
According to Emirates News Agency, the meeting also included 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), along with representatives from the Presidential Court and the Ministry of Finance. The committee focused on several key topics, with the draft general budget for 2026 being a priority, as part of the overarching budget plan for 2022-2026. This was in line with the coordination efforts led by the Ministry of Finance with all federal entities to prepare the federal budget, mindful of both local and global economic shifts.
In adherence to Federal Decree-Law No. (26) of 2019 on Public Finance, its amendments, and the relevant decisions, the committee undertook all necessary procedures governing the preparation and presentation of the budget. They emphasized the completion of these procedures for the draft federal budget for 2026, which will be submitted to the Cabinet for review. The committee also assessed budgetary proposals from various federal entities for the 2026 fiscal year.
Moreover, the committee examined the financial status for fiscal year 2025, considering the cash inflows and outflows reported during the first half of the year, alongside the fiscal projections for 2026. These projections were informed by revised revenue forecasts and expenditure estimates presented by federal entities, showcasing ongoing recovery across key economic sectors and favorable national growth indicators.
The committee recommended implementing the necessary measures in response to these evaluations. It also lauded the Ministry of Finance for its role in updating the draft budget for 2026 and for maintaining effective coordination with federal entities throughout the budget preparation process.