General Budget Committee Discusses UAE Draft Budget For Fiscal Year 2026 And Economic Outlook
The General Budget Committee recently convened its 13th meeting at Qasr Al Watan in Abu Dhabi to deliberate on the UAE's draft general budget for the fiscal year 2026. The meeting was attended by key figures, including His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President and Deputy Prime Minister, and H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai.
Also present were H.H. Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs; Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs; and Khaled Mohamed Balama Al Tameemi, Governor of the Central Bank of the UAE. Representatives from the Presidential Court and Ministry of Finance also participated.
The committee examined several topics, including the draft budget for 2026 within the framework of the 2022-2026 budget plan. This process involved coordination by the Ministry of Finance with all federal entities to prepare a comprehensive federal budget. The approach considered both local and global economic developments.
In line with Federal Decree-Law No. (26) of 2019 on Public Finance, all necessary procedures were followed for preparing and presenting the budget. The committee instructed that these procedures be completed to prepare the draft federal budget for 2026, which will later be submitted to the Cabinet.
The financial position for fiscal year 2025 was reviewed by examining cash inflows and outflows recorded during its first half. The committee also considered projections for fiscal year 2026 based on updated revenue forecasts and expenditure estimates from federal entities.
These projections reflect a sustained recovery across key economic sectors and positive national growth indicators. The committee recommended taking necessary measures accordingly to ensure financial stability.
Commendation for Efforts
The committee acknowledged the Ministry of Finance's efforts in updating the draft budget for 2026. It praised their effective coordination with federal entities throughout this preparation process, ensuring alignment with economic objectives.
The committee also reviewed budget proposals submitted by various federal entities for the 2026 fiscal year. This review aimed to ensure that all proposals align with national priorities and economic strategies.
This meeting underscores the UAE's commitment to maintaining a robust financial framework while adapting to changing economic conditions globally and locally.
With inputs from WAM
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