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GOVERNMENT AFFAIRS - FEDERAL BUDGETS

Humaid Al Nuaimi approves Ajman general budget for 2016, sets growth rate of 10 per cent

Posted on 31/12/2015

H.H. Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman has issued Emiri Decree No. 13 of 2015, approving the general budget of the Ajman government for the fiscal year 2016, with a total expenditure of about Dh1.171 billion, and a growth rate of 10 per cent compared to last year's budget. H.H. Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman said that the budget for the fiscal year 2016 is a translation of the directives of the Ruler of Ajman, and focusses ...  >>MORE

Mohammed bin Rashid approves Dubai’s budget for 2016

Posted on 28/12/2015

Vice President and Prime Minister of the UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum has approved budget for the Emirate of Dubai for the year 2016 which is 12 percent more than previous year budget with no deficit and provides more than 3,000 job opportunities. The budget will continue to stimulate economic growth and has total expenditure of Dh 46.1 billion, with an operating surplus of Dh 3.4 billion. The 2016 budget directly applies directives as set by His ...  >>MORE

FNC approves federal budget draft law

Posted on 23/12/2015

The Federal National Council yesterday passed a draft law on linking the budgets of autonomous government entities with the federal budget for 2016. The federal bill was passed during a meeting held as part of the first term of the FNC's 16th legislative chapter. On 25th October, the Cabinet approved a Dh48.5 billion federal budget for next year with sero deficit. The budget is focussed on social development, education and health care. Tuesday's session was chaired by Dr. Amal Abdullah Al ...  >>MORE

Economy Minister: 2016 budget shows UAE government's determination to continue ambitious projects

Posted on 26/10/2015

Sultan bin Saeed Al Mansouri, Minister of Economy of the UAE, on Sunday said the Cabinet's approval of an Dh48.5 billion federal budget shows it is determined to continue to carry out ambitious projects in vital sectors like healthcare, social development, economic development, protection of the environment, culture and infrastructure, in line with the UAE Vision 2021. He made his remark in a statement yesterday following the approval of the 2016 federal budget by the cabinet in a meeting ...  >>MORE

Cabinet's Financial and Economic Committee discusses 2016 budget bill

Posted on 06/07/2015

The Financial and Economic Committee of the UAE Cabinet, tonight discussed the budget bill for 2016 in a meeting chaired by H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, and attended by H.H. Sheikh Abdullah bin Zayed Al Nahyan, Foreign Minister, Mohammed bin Abdullah Al Gergawi, Minister for Cabinet Affairs, and Obaid bin Humaid Al Tayer, Minister of State for Financial Affairs Sultan bin Saeed Al Mansouri, Minister of Economy. At the ...  >>MORE

Financial and Economic Committee discusses features of 2016 draft budget

Posted on 16/06/2015

The Financial and Economic Committee, chaired by H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, yesterday discussed the features of 2016 draft budget and reviewed the projected fiscal cash flow for 2015- 2016 within a medium-term plan for the years 2014 - 2016, as well as projected revenues and expenses of the Federal Government for years 2015 - 2016. Held at the presidential palace, the meeting was attended by H.H. Sheikh Abdullah bin ...  >>MORE

UAE US$700b spending on track

Posted on 30/12/2014

A relatively low fiscal and external current account break-even price of oil and ample foreign assets will enable the UAE to press ahead with an estimated US$700 billion worth of infrastructure projects expected to come on stream over the next 15 years, spurring credit growth in the banking sector, the Institute of International Finance, or IIF, said. The UAE's nominal gross domestic product, or GDP, is poised to touch US$435 billion in 2016, up from US$417 billion in 2014 and US$405 billion ...  >>MORE

Third session of UAE budget touches Dh140 billion up by 15 per cent, says Hamdan bin Rashid

Posted on 23/02/2014

H.H. Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance, has announced that the estimated value of the third session of the UAE's budget "2014 - 2016" touches Dh140 billion up by 15 per cent compared with the estimated value of the second session of budget "2011 - 2013", which amounted to Dh122 billion. He said at a press conference held yesterday that the increase reflects the strength of UAE's economy and its ability to continue growing amid preparedness ...  >>MORE

UAE budget emphasis on social development hailed

Posted on 29/10/2013

The UAE Cabinet on Sunday approved the medium term draft federal budget framework for 2014-2016 worth Dh140 billion, with huge emphasis on investments in education, human resources and social development. In the federal budget of Dh46.6 billion, which is slightly higher than the Dh44.6 billion budget in 2013, the government has allocated Dh23.5 billion (51 per cent) for social development and related projects, once again emphasising the importance of this sector. "The allocated budget for ...  >>MORE

Ministry of Finance issues Financial Circular for the General Federal Budget

Posted on 07/03/2013

Following the UAE Cabinet's resolution No. (1/181) issued in the 2008, which mandated the ministries and federal entities to prepare the general federal budget on the basis of a three year medium- term plan, Obaid Humaid Al Tayer, Minister of State for Financial Affairs, released financial circular No. (1) of 2013. The circular pertains to the 2013 budget project of the UAE ministries and federal authorities and set the date of Sunday, May 5, as the next deadline for delivering budget ...  >>MORE

UAE to launch School Parliament by September

Posted on 01/02/2013

Lively, outgoing and daring schoolchildren in the UAE will be given a unique opportunity to bring about the change they want as election campaigns and voting are around the corner for them. All are too young to vote in the country's parliamentary elections, but thousands of young people will be eligible to elect a 54-member youth parliament made up of primary and secondary school pupils across the country, with all the pomp and ceremony resident in any other parliamentary election process in ...  >>MORE

Dubai unveils Dh34b budget

Posted on 01/01/2013

Dubai's government has announced its budget for 2013 with more than Dh34.12 billion expenditures and nearly eight per cent increase in public revenue. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, on Monday approved Dubai's fiscal budget for the year 2013. The government is able to reduce the budget deficit to record levels keeping the deficit ratio at less than 0.5 per cent of the GDP, the government said in a statement. ...  >>MORE

Sharjah Ruler approves Dh11.6B for the emirate's general budget 2012

Posted on 29/12/2011

Supreme Council Member and Ruler of Sharjah HH Sheikh Dr. Sultan Bin Mohammed Al Qasimi has approved a Dh11.6B budget for the local government departments and authorities for the year 2012. Director General of the central Finance Department of Sharjah Walid Al Sayegh said that the budget is drawn up in line with the directives of the Ruler to focus on the welfare of the citizens through the development of infrastructure, housing, social utilities, support for economy, strengthening of ...  >>MORE

Dubai to reduce deficit by 53%

Posted on 26/12/2011

Dubai will reduce its budget deficit by 53 per cent to Dh1.82 billion next year, with expenditures expected to reach Dh32.25 billion, the government has announced. The budget for 2012 has a target to generate Dh30.43 billion in revenues, 60 per cent of which, or Dh18.33 billion, will come from government fees and service charges, while customs and tax revenues will fetch Dh6.6 billion, or 22 per cent. Oil revenues are put at Dh3.5 billion, or 11 per cent, while the rest, seven per cent or Dh2 ...  >>MORE

Khalifa issues budget decree

Posted on 14/12/2011

President His Highness Sheikh Khalifa Bin Zayed Al Nahyan has issued a decree with respect to the rules of preparing the public budget and final statement of account. The decree explains the mechanism of preparing the public budget, which represents the federal government's programme for achieving economic and social development through optimal distribution of resources within the framework of the federal strategy on the expenditures expected to be spent by the federal authorities in coming ...  >>MORE

Al Tayer: 2011 federal budget on schedule

Posted on 08/05/2011

The UAE federal government is pressing ahead with implementation of this year's budget according the schedule, and could issue sovereign bonds next year if necessary, said Minister of State for Financial Affairs Obaid Humaid Al Tayer. "The federal government will issue sovereign bonds if that was deemed as necessary, Al Tayer said while addressing a joint press conference with GCC Secretary General Dr Abdul Latif Al Zayani here yesterday. Al Tayer said the UAE and other GCC countries ...  >>MORE

UAE federal spending grows 7% in 10 years

Posted on 20/09/2010

The UAE's federal expenditure has grown by around seven per cent annually over the past 10 years and the bulk of the increase was after 2005, when oil prices began their rapid rise, according to government data. Revenues recorded slightly higher growth of around eight per cent and the federal budget has ended without deficit in the past five years in line with plans to issue balanced revenue and spending, the Ministry of Finance's figures showed. From Dh22.91 billion in fiscal year 1999, ...  >>MORE

UAE on track for balanced budget

Posted on 25/08/2010

The UAE Government is on course to balance its budget after spending about half its projected Dh43.6 billion (US$11.87bn) annual appropriation in the first six months of the year, a top official says. A rise in receipts from Federal Government ministries compared with last year contributed to improved revenue, said Younis al Khoori, the director general of the Ministry of Finance. "In the first six months we have almost executed what was requested by the Federal Government for the year,” he ...  >>MORE

Abu Dhabi to slash budget gap, continue development

Posted on 20/07/2010

Abu Dhabi expects to reduce its budget deficit to Dh84.9 billion in 2010 from Dh126.5 billion in 2009, based on an assumed oil price of US$60 a barrel for the year, official documents show. This will take place as the emirate carries out its ambitious development plan. Abu Dhabi posted the higher 2009 deficit as crude oil prices slumped, and it spent more on development. This was according to figures published in the prospectus for a planned bond sale by local aircraft leasing and ...  >>MORE

Ministry of Finance: zero-budget to minimise wasted public money

Posted on 13/04/2010

The Ministry of Finance said the implementation of a 3-year zero-budget budget will restrict financial violations at some ministries and governmental departments, said Director General of the Ministry Younis Haji Al Khouri. The said budget will also realise the government's ambitious development strategy as well as improve quality and timeliness of services and minimise wasted public money, Al-Khouri added in reply to queries by the Financial, Economic '&' Industrial Committee at the Federal ...  >>MORE

Dubai Finance Chief eyes budget surplus in 2011: Report

Posted on 01/03/2010

Dubai's government has started to cut spending in an effort to swing its budget to a surplus by 2011, the emirate's finance chief said in a report published on Sunday. Abdulrahman Al Saleh, the head of Dubai's Department of Finance, told Al-Bayan that he plans to trim the government's operating expenses by 15 per cent this year to reduce the budget gap. Dubai approved the 2010 budget with a deficit of two per cent of GDP, deeper than last year and in line with a budget committee's ...  >>MORE

DEC releases report on Dubai's 2010 Budget

Posted on 12/01/2010

The Secretariat General of the Dubai Economic Council (DEC) released a brief report about the Emirate of Dubai's 2010 budget which was approved by H.H. Sheikh Mohammad bin Rashid Al Maktoum Vice President and Prime Minister of the UAE and Ruler of Dubai last Thursday. Under the heading 'The 2010 Budget...A Balance between Economic '&' Social Goals', the report said that the budget reflects a clearly defined strategy that will achieve economic growth levels and counter the impact of the ...  >>MORE

Ruler of Dubai approves budget for the 2010

Posted on 08/01/2010

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has approved the law of the fiscal year budget for the year 2010 of the government sector in the Emirate of Dubai. The Public Budget of the Government of Dubai reflects Sheikh Mohammed trends assuring need to work within the framework of a fiscal policy which aims to raising economic growth rates and to overcoming the repercussions of the global crisis and in the same time ...  >>MORE

UAE cabinet approves record Dh43.6 billion federal budget for 2010, UAE-US agreement on peaceful nuclear cooperation

Posted on 27/10/2009

An extraordinary meeting of the UAE Cabinet presided over by His Highness Sheikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai approved yesterday a Dh43.6 billion federal budget for 2010. The budget represents an increase of 3.4% compared to 2009 and will be balanced with no deficit spending for the sixth consecutive year. The approved budget, effective on the 1st of January 2010, reflects the UAE's strategic priorities by focusing on social ...  >>MORE

UAE to revamp budget regime

Posted on 05/03/2009

The UAE has launched steps to reform the federal budget process as part of its efforts to move into a zero-based budget regime from 2011. With the introduction of the new system, the UAE's federal budget would cover a three-year period instead of the present one year, top officials at the Ministry of Finance said, while speaking at a kick-off meeting for the budget restructuring on Wednesday. "The UAE will still have annual budgets, but they will form part of a three-year budget which will ...  >>MORE

FNC ratifies the Dh42.2bn federal draft budget for 2009

Posted on 01/01/2009

The Federal National Council (FNC) has given its approval for the Federal daft budget for 2009, the biggest in the history of UAE. The FNC session chaired by Speaker Abdul Aziz Abdullah Ghurair was attended by Minister of State for Foreign Affairs HE Dr. Anwar Mohammed Gargash and Minister of State for Financial Affairs HE Obeid Humaid Al Tayer. The Dh42.2bn no-surplus and zero deficit budget covers all ministries and the affiliated federal institutions. The FNC also obtained an ...  >>MORE

Budget of 2009 does not include imposition of tax or new fees: Ministry of Finance

Posted on 23/10/2008

The Ministry of Finance, said the budget of 2009 does not include imposition of tax or new fees. It added that it was mulling over issuing treasury bonds for 2010 as per declared strategy of the ministry for coming years. – Emirates News Agency, WAM ...  >>MORE

Dubai's 2008 budget posts Dh11.4 b surplus

Posted on 13/01/2008

H.H Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai has issued, in his capacity as a ruler of Dubai, Decree No. 8 for 2008 announcing the balance sheet of the emirate, which is expected to touch a surplus of Dh11.4 billion compared to Dh5.1 billion in 2007. Dubai's Revenues of fiscal year 2008 are expected to touch Dh135 billion, while planned spending is estimated at Dh123.6 billion. Dubai's non-oil sector has scored success in regard to production ...  >>MORE

FNC approves draft federal budget

Posted on 31/12/2007

The Federal National Council (FNC) on Sunday approved the draft federal budget for 2008 after more than eight hours of debate. The balanced budget expects Dh34.9 billion in revenue, 44 per cent of which will be contributed by the emirates of Abu Dhabi and Dubai; 13.9 per cent from investments returns and 20.9 per cent from etisalat. Various other federal revenues account for the remainder. The session was chaired by FNC Speaker Abdul Aziz Al Ghurair and attended by Dr. Mohammad Khalfan Bin ...  >>MORE

Federal Budget for 2008 the largest in the history of UAE - Kharbash

Posted on 22/11/2007

Dr. Mohamed Khalfan bin Kharbash, Minister of State for Finance and Industry confirmed that the federal budget approved by the cabinet yesterday is the largest budget in the history of UAE. Kharbash added that the Dhs.34.9b budget with a substantial increase of 23.7 percent in comparison to the current budget is a balanced one and does not contain any new increase in federal fees. The increase in federal revenue is realised through the country's investments in various sectors in accordance ...  >>MORE

Cabinet approves biggest, zero-deficit budget

Posted on 21/11/2007

The Cabinet passed on Tuesday the federal budget for the fiscal year 2008, the largest ever in the UAE's history and the fourth consecutive free-deficit state budget. The budget was approved in a cabinet meeting chaired by H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. The 2008 budget bill, submitted by the Ministry of Finance and Industry, accounted for Dh34.9 billion, an increase of Dh6.7 billion, or 23.8 percent, compared with ...  >>MORE

2007 budget begins on time

Posted on 03/01/2007

Implementation of UAE's federal budget for the fiscal year 2007 started yesterday with the beginning of the year. The federal budget for 2007 stood at Dh 28.4 billion and maintained a zero deficit for the third running year. Dr Mohammed Khalfan bin Kharbash, Minister of State for Financial and Industrial Affairs said that timely implementation of the budget was in line with the directives of H.H Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai to ...  >>MORE

UAE's 2007 budget free of deficit

Posted on 16/10/2006

The federal budget for 2007 stood at 28.4 billion and maintained a zero deficit for the third running year. The budget lists both revenues and expenditure at Dh 28.425 billion, compared with Dh 27.878 billion in 2006. In a press conference held in Abu Dhabi yesterday, Dr Mohammed Khalfan bin Kharbash, Minister of State for Financial and Industrial Affairs said that 2007 budget draft, issued for the first time ahead of implementation, focuses mainly on education which makes up Dh 7.1 billion ...  >>MORE

UAE federal budget draft to be presented to the cabinet soon

Posted on 10/10/2006

The draft of the UAE federal budget has been finalised and will soon be presented to the cabinet for approval before it is submitted to President His Highness Sheikh Khalifa Bin Zayed Al Nahyan, officials said yesterday. The Financial and Economic committee yesterday approved yesterday the federal budget for 2007, in a meeting headed by Sheikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance and Industry. Dr Mohammad Khalfan Bin Kharbash, Minister of State for ...  >>MORE

Khalifa approves Dh27.8b budget

Posted on 31/05/2006

THE UAE President and Abu Dhabi Ruler His Highness Sheikh Khalifa Bin Zayed Al Nahyan has issued Federal Law No.10 of 2006 with respect to the federation's budget and the budgets of independent bodies for financial 2006. The federation's budget has been estimated at Dhs27.87 billion, including Dhs1.8 billion for settling part of the Central Bank's loan. Income has been estimated at Dhs27.87 billion. The Federal National Council's expenditure and income have been estimated at Dhs50.4 ...  >>MORE

Federal budget achieves zero-deficit for second year in a row

Posted on 22/03/2006

The federal budget for the fiscal year 2006 which was passed yesterday by the Cabinet has achieved a zero-deficit for the second consecutive year , according a senior finance official. "For the second year in a row, the budget achieved a zero-deficit. There has been a balance between expenditure and revenues, both of which stood at Dh27.8 billion", said Dr. Mohammed Khalfan Kharbash, Minister of State for Finance and Industry. Kharbash told reporters yesterday that projected revenues were ...  >>MORE

Dh5.8b surplus budget for Dubai approved

Posted on 08/03/2006

Dubai's budget for the 2006 fiscal with a projected surplus of Dh5.8 billion has been approved by His Highness Sheikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai. The budget's revenues for this year were estimated at Dh78.7 billion, while expenditures stood at Dh72.9 billion, reported WAM. The increase in revenues for the fiscal is estimated at Dh22.7 billion, while the increase in expenditures is expected to reach nearly Dh21 billion over ...  >>MORE

Non-deficit federal draft budget for 2006 passed

Posted on 31/12/2005

The Financial and Economic Committee approved today a balanced draft federal budget for the fiscal year 2006 at Dh 25.74 billion, an increase of Dh 3 billion than that of 2005, a senior financial official announced on Wednesday. Dr. Mohammed bin Khalfan Kharbash, Minister of State for Finance and Industry, said the nil-deficit budget gives top priority in spending to public and higher education, allocating 37 per cent of expenditure to the key sector. 'The draft budget added Dh 500 million ...  >>MORE

Khalifa issues decree on budget

Posted on 28/08/2005

President His Highness Sheikh Khalifa Bin Zayed Al Nahyan has issued a federal law on rules of drafting the general budget and final statement of account. He has stipulated that all national revenues should be earmarked to cover all expenses. No specific revenue would be earmarked to cover specific expenses. An exemption from this provision is granted to bodies with an independent budget, where a specific revenue of the budget will be earmarked to cover specific expenses after being recorded ...  >>MORE

Mohammed endorses Dubai 2005 budget

Posted on 17/04/2005

General Sheikh Mohammed bin Rashid Al Maktoum, Dubai Crown Prince and UAE Defence Minister has approved the consolidated budget for the Emirate of Dubai for the fiscal year 2005.Expenditures were projected at Dh 52 billion against income of Dh 56 billion with a surplus of Dh 4 billion. Chaired by Sheikh Mohammed, the Dubai Executive Council discussed in its recent meeting a report on the current year budget. (The Emirates News Agency, WAM) ...  >>MORE

Khalifa issues federal budget law

Posted on 30/03/2005

The President, His Highness Sheikh Khalifa bin Zayed Al Nahyan, issued here yesterday a federal law, endorsing the UAE Federal Budget for the fiscal year 2005. Article (1) of the Federal Law no (3) for 2005, projected the budget at Dh22.703 billion. It is the first time in 24 years that the country saw a nil deficit, thanks to a Ministry of Finance and Industry plan which struck a balance between projected expenditures and revenues. The balanced spending and revenues of Dh22.7 billion will ...  >>MORE

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Quick List

Humaid Al Nuaimi approves Ajman general budget for 2016, sets growth rate of 10 per cent


Mohammed bin Rashid approves Dubai’s budget for 2016


FNC approves federal budget draft law


Economy Minister: 2016 budget shows UAE government's determination to continue ambitious projects


Cabinet's Financial and Economic Committee discusses 2016 budget bill


Financial and Economic Committee discusses features of 2016 draft budget


UAE US$700b spending on track


Third session of UAE budget touches Dh140 billion up by 15 per cent, says Hamdan bin Rashid


UAE budget emphasis on social development hailed


Ministry of Finance issues Financial Circular for the General Federal Budget


UAE to launch School Parliament by September


Dubai unveils Dh34b budget


Sharjah Ruler approves Dh11.6B for the emirate's general budget 2012


Dubai to reduce deficit by 53%


Khalifa issues budget decree


Al Tayer: 2011 federal budget on schedule


UAE federal spending grows 7% in 10 years


UAE on track for balanced budget


Abu Dhabi to slash budget gap, continue development


Ministry of Finance: zero-budget to minimise wasted public money


Dubai Finance Chief eyes budget surplus in 2011: Report


DEC releases report on Dubai's 2010 Budget


Ruler of Dubai approves budget for the 2010


UAE cabinet approves record Dh43.6 billion federal budget for 2010, UAE-US agreement on peaceful nuclear cooperation


UAE to revamp budget regime


FNC ratifies the Dh42.2bn federal draft budget for 2009


Budget of 2009 does not include imposition of tax or new fees: Ministry of Finance


Dubai's 2008 budget posts Dh11.4 b surplus


FNC approves draft federal budget


Federal Budget for 2008 the largest in the history of UAE - Kharbash


Cabinet approves biggest, zero-deficit budget


2007 budget begins on time


UAE's 2007 budget free of deficit


UAE federal budget draft to be presented to the cabinet soon


Khalifa approves Dh27.8b budget


Federal budget achieves zero-deficit for second year in a row


Dh5.8b surplus budget for Dubai approved


Non-deficit federal draft budget for 2006 passed


Khalifa issues decree on budget


Mohammed endorses Dubai 2005 budget


Khalifa issues federal budget law