Stock - Sheikh Mohammed at Federal Budget Meeting
Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai. Image Credit: Twitter/HHShkMohd

Dubai: The UAE on Tuesday approved the federal budget worth Dh290 billion for the next four years (2022-2026).

The Cabinet approved the 2022-2026 budget during a meeting held at Expo 2020, under the leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai.

Appointments in place

The Cabinet also decided to appoint Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum as Chairman of the General Budget Committee of the union and Chairman of the Federal Tax Authority.

Sheikh Shakhbut bin Nahyan has also been appointed as Chairman of the Executive Committee of the UAE-Saudi Coordination Council, while Abdullah bin Sultan Al Nuaimi will serve as Chairman of the Judicial Coordination Council.

In a series of tweets, Sheikh Mohammed said: “Today, I chaired a cabinet meeting at the UAE Pavilion at the Expo 2020. It is indeed an exceptional pavilion under the supervision of the Sheikha Mariam bint Mohammed bin Zayed.”

"During the meeting, we approved the federal budget for the next four years with total spending of Dh290 billion. We are embarking on the new 50 years with confidence, optimism, and global aspirations.”

New workflow

The Cabinet has also approved the new work methodology for government in the coming period to build a faster government that relies on executive programmes and transformational projects.

During the cabinet meeting, the budget for the year 2022 was also approved, with Dh58.931 billion expenditures.

The largest share of the 2022 budget was allocated to the development and social benefits sector at 41.2 per cent. Out of them 16.3 per cent was allocated for education, 6 per cent for social development, 8.4 per cent for health, 8.2 per cent for pensions, and 2.6 per cent for other services.

3.8 per cent of the budget has been allocated to the infrastructure and financial resources sector.

“Our work will not be based on individual ministries rather on strategic sectors,” said Sheikh Mohammed. “The plans and agendas will not be the benchmark of our success, rather field projects and initiatives.”

His Highness went on to say that approving the federal budget together with the new work methodology is nothing but a message that we are on the verge of greater, better and more beautiful years.

Endorsing cyber security

The Cabinet also endorsed the cyber security standards proposed by the UAE Cybersecurity Council for government departments. “Our cyberspace borders are sacred, and we will always protect and consolidate its defence system,” the Vice President said.

During today’s meeting, the council of ministers set up the Emirates Council for Infrastructure and Housing to be chaired by Suhail Al Mazrouei.

"We need to unify our federal and local housing efforts and we will consolidate coordination with regard to road and infrastructure projects and build an urban and housing road map for the UAE,” the Prime Minister added.

As part of the Cabinet agendas, Mohamed Hadi Al Hussaini has been appointed the Chairman of the General Pension and Social Security Authority and Chairman of Etihad Credit Insurance.

Ahmed Belhoul will also serve as Chairman of Higher Colleges of Technology while Mariam Al Muhairi was appointed as Chairman of the UAE Council for Climate Change and Environment.