2024-06-12 00:05:00
The Union Common Finances Committee mentioned the draft Union Common Finances for Fiscal 12 months 2025, with His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and President of the Presidential Court docket of the UAE, and Sheikh Nahyan, President of the UAE. His Highness Mansour bin Zayed Al Nahyan attended the assembly. and Secretary of the Treasury within the Presidential Cupboard.
The assembly was held by the committee in Qasr Al Watan, Abu Dhabi, and was additionally attended by Mohammad bin Abdullah Al Gergawi, Minister of Cupboard Affairs, Mohammad bin Hadi Al Husseini, Minister of State for Monetary Affairs and Governor-Common of the Central Financial institution of the United Arab Emirates Khalid Mohammed Al-Amma, in addition to representatives from the Workplace of the President and the Ministry of International Affairs.
His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum posted a weblog put up on the official account of the “X” platform: “We held a gathering of the Federal Common Finances Committee to debate the Federal Common Finances draft.
His Highness added: “The outcomes and indicators of the Federal Common Finances Committee replicate the power of our nationwide financial system and its continued progress throughout all sectors and actions, guided by the imaginative and prescient and directives of our sensible management and our disciplined fiscal coverage. We’ll proceed to attain world monetary and improvement management.
In the course of the assembly, the Fee mentioned a collection of subjects, essentially the most notable of which was the preparation of the draft EU normal funds for the fiscal 12 months 2025 inside the annual funds plan (2022-2026), according to the coordination of the Ministry of Finance. So as to put together the EU normal funds, considering Developments on the native and world financial ranges, the required measures are taken inside the framework of laws regulating preparation and presentation. .
The committee is tasked with finishing the required procedures to arrange a draft EU normal funds for 2025 following which submit it to the Council of Ministers.
The committee reviewed the federal authorities’s money move for the present fiscal 12 months, which incorporates precise income collected over the last interval of the fiscal 12 months and estimates of anticipated income by way of the top of fiscal 12 months 2025 primarily based on the federal company’s newest income forecast.
The committee reviewed the federal authorities’s monetary place for fiscal 12 months 2024 primarily based on precise expenditures and revenues for the primary half of 2024, as these indicators replicate the extent of progress of the UAE nationwide financial system throughout varied sectors and actions.
The committee additionally reviewed the progress of accepted capital and improvement tasks accomplished over the previous a number of months in fiscal 12 months 2024.
It’s price noting that the Council of Ministers accepted the Union’s normal funds for fiscal 12 months 2024, with income of AED 65.728 billion and expenditure of AED 64.060 billion.
Maktoum bin Muhammad:
. With the imaginative and prescient and directives of our sensible management and stringent monetary insurance policies, we are going to proceed to attain management in world finance and improvement.
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