Dubai: His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, has affirmed that the UAE’s general budget is being utilised as a tool for human development, investment in the future and accelerating progress towards the highest levels of global competitiveness.
The Cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai, approved the federal general budget plan for 2027-2029 with total expenditures of AED292.5 billion. The Cabinet also approved the federal general budget for the 2027 fiscal year, with total spending of AED90.1 billion, more than one-third of which has been allocated to the social development and pensions sector.
His Highness said: “The UAE’s budget reflects the priorities of our wise leadership, which places improving the quality of life of society at the forefront of its goals. Through it, artificial intelligence and smart solutions will be employed in financial planning to ensure the flexibility of our economy and strengthen its international competitiveness, while maintaining the highest levels of financial discipline.”
His Highness added: “Our most important goal remains ensuring that every financial investment delivers a human return that is reflected in the future of coming generations.”