Sheikh Mohammed approves Dh92.4 billion budget for 2026

Abu Dhabi: The UAE Cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, approved the 2026 federal budget of Dh92.4 billion, during a meeting held on Monday at Qasr Al Watan in Abu Dhabi.

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The budget, estimated at Dh92.4 billion in both revenues and expenditures, is the largest in the nation’s history since the establishment of the Union. Sheikh Mohammed said the 2026 budget reaffirms the UAE’s commitment to balanced development and strengthens the federal governance framework.

On his X account, Sheikh Mohammed wrote: “I chaired today’s Cabinet meeting at Qasr Al Watan in Abu Dhabi, during which we approved the federal budget for 2026, with estimated revenues of Dh92.4 billion and balanced expenditures of the same amount.”

The Vice President added: “The 2026 federal budget is the largest since the establishment of the Union — a budget that strengthens the federal system and reflects our continued commitment to balanced and sustainable development.”

The Cabinet approved the creation of a programme to support and reinforce the Federal Financial Centre through annual allocations from the federal budget, aimed at ensuring the long-term financial sustainability of federal institutions.

The Cabinet also reviewed the results of the UAE’s 2024 National Agenda for Outward Foreign Direct Investment, which showed the country’s cumulative foreign investment abroad reaching Dh1.05 trillion — a 9 percent increase from the previous year. The UAE now ranks first in the Arab world and among the top 20 global economies in outward foreign direct investment.

Sheikh Mohammed said the figures reflect the strength and expanding global reach of the UAE’s economy. “Our investments continue to grow, our trade is accelerating, and our economy is moving steadily forward,” he emphasised.

During the meeting, the Cabinet also approved 35 international agreements and memoranda of understanding in the fields of economy and cooperation. It further reviewed the progress of the UAE’s export development policy, which saw the country’s exports rise from around Dh470 billion in 2019 to Dh950 billion in 2024 — a 103 per cent increase.

“Our budgets are balanced, our investments are growing, and our nation continues to advance in prosperity and stability under the leadership of my brother, His Highness Sheikh Mohamed bin Zayed Al Nahyan,” Sheikh Mohammed added. “Together, we continue to move from one peak to another, ensuring a dignified life for our people and all who call the UAE home.”