Basic Finances Committee’s ninth assembly discusses UAE’s draft common finances for 2024 fiscal 12 months – UAE

 Within the presence of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Minister of the Presidential Courtroom, H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, chaired the ninth assembly of the Basic Finances Committee.

The assembly mentioned the draft common finances of the UAE for the 2024 fiscal 12 months. The ninth assembly of the Committee was additionally attended by Mohammad bin Abdullah Al Gergawi, Minister of Cupboard Affairs; Mohamed Hadi Al Hussaini, Minister of State for Monetary Affairs; Khaled Mohamed Balama, Governor of the Central Financial institution of the UAE, and representatives of the Ministry of Finance and Presidential Courtroom.

Throughout the assembly, the Committee mentioned the 2024 draft common finances that types a part of the finances plan for the 2022-2026 interval, in accordance with the Federal Decree – Legislation No. (26) of 2019 on public finance, amendments, related resolutions and proposals.

The Committee directed the Ministry of Finance to finish drafting the Basic Finances of the Union for the 12 months 2024 for submission to the UAE Cupboard. The Committee additionally reviewed federal money flows for the 12 months 2023, along with reviewing the estimations of the projected finances expenditure by the tip of the 2024 fiscal 12 months.

The Committee reviewed the federal authorities’s monetary place for the 12 months 2023, based mostly on precise bills and revenues collected throughout the first half of the 12 months, which point out the numerous progress of varied sectors and financial actions within the UAE.

Throughout the assembly, the Committee was briefed on the progress of authorized capital and growth initiatives accomplished over the last months of the 2023 fiscal 12 months. The UAE Cupboard assembly has authorized the federal finances for 2023 with a complete expenditure of AED 63.1 billion.

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