Abu Dhabi: Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, Sunday chaired the regular meeting of the General Budget Committee.
The meeting was attended remotely by Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation.
The committee discussed the draft general budget 2022-2026, in addition to the measures carried out by the Ministry of Finance to prepare the draft general budget for 2022, as per federal law No. 26 of 2019 on public finances and related decisions.
The meeting touched on the federal government’s cash flows expected in 2022 based on federal bodies’ estimates of revenues, using the latest technology and the system of automation of forecasts of future revenues.
The committee has instructed the Ministry of Finance to complete its procedures for preparing the draft general budget for the next five years in line with the strategic objectives to achieve the UAE’s vision on preparation for the next 50 years.
It also discussed integrated financial policies and procedures for financing capital projects, and reviewed the federal government’s financial position in the current fiscal year, in light of the actual expenses and revenues generated in the first half of the year, and the revenues expected for the remaining months of 2021.
The meeting was attended by Mohammed Abdullah Al Gergawi, Minister of Cabinet Affairs, Obaid Humaid Al Tayer, Minister of State for Financial Affairs, and Khaled Mohammed Balama Al Tameemi, Governor of the UAE Central Bank, as well as representatives from the Ministry of Finance.