UAE launches 2027-2029 finance plan to improve government spending

Dubai: Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, has launched the Ministry of Finance’s 2027-2029 Strategic Plan to improve the efficiency of public financial management and strengthen the UAE’s global financial standing.

The plan sets out a new framework for government finance, with a focus on fiscal sustainability, better use of public resources, stronger international partnerships and more proactive services powered by data and artificial intelligence.

The strategy also aims to support long-term economic development by making government financial operations more agile, efficient and ready for future challenges.

Sheikh Maktoum said the plan marks a new stage in the development of the UAE’s government financial ecosystem.

“It [the plan] establishes a more proactive and agile financial model that supports sustainable growth, enhances national competitiveness and reinforces the UAE’s global standing,” he said.

He added: “Through this Plan, the Ministry of Finance will further strengthen the role of public finance as a strategic driver of sustainable development, government excellence and quality of life, which remains a national priority.”

The plan focuses on three main goals: strengthening fiscal sustainability and resilience, achieving global leadership in government financial performance, and reinforcing the UAE’s international standing through strategic partnerships.

It also includes three supporting objectives: designing proactive and sustainable fiscal policies, maximising the efficiency of government financial resource management, and expanding global financial and economic cooperation.

AI and data-led services

A key part of the strategy is the shift towards proactive and predictive government services that anticipate the needs of federal entities, private-sector partners, citizens and residents.

The Ministry of Finance plans to expand smart financial services using data and artificial intelligence, with initiatives covering procurement, budgeting, legal research, archiving, financial analysis and government revenue management.

The plan also includes projects such as Smart Legal Research, Transforming the Government Procurement Journey through Artificial Intelligence, the National Assistant for Financial Analysis, the Federal Government ERP System, the Smart Predictive Budgeting Platform and the National Observatory for Fiscal Policy and Innovation.

Sheikh Maktoum said the plan would raise the readiness and impact of government financial management.

Talent and partnerships

The plan also places strong emphasis on developing national talent, adopting advanced technologies and building a culture of innovation across the government financial system.

Sheikh Maktoum said developing national talent, leveraging advanced technologies and fostering innovation are fundamental pillars in building a future-ready financial ecosystem that can respond to change and turn challenges into opportunities.

“The Strategic Plan provides a comprehensive framework for advancing the government financial ecosystem by enhancing its agility and ability to respond to change, while reinforcing the Ministry’s role in strengthening the UAE’s competitiveness, improving government financial performance and building partnerships that elevate the country’s presence on the global financial and economic stage,” said Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs.

“We remain focused on translating strategic priorities into tangible impact through a more integrated and proactive operating model that invests in talent, leverages innovation and emerging technologies, and supports informed decision-making, ultimately enhancing resource efficiency and ensuring sustainable outcomes.”

Focus on government efficiency

The Ministry said the plan is built on six institutional values: proactiveness, agility and efficiency, partnership and integration, innovation and leadership, integrity and transparency, and teamwork.

The strategy is also aligned with the UAE Centennial 2071, We the UAE 2031, federal strategies and national plans, as well as global trends in public finance, sustainability, innovation and digital transformation.

The Ministry said the plan will help move government financial management towards a more collaborative model that strengthens cooperation between federal entities, the private sector and strategic partners.

It will also support the shift from reactive service delivery to proactive and predictive services, with the aim of reducing effort for beneficiaries, improving customer satisfaction and lowering operational costs.