UAE approves Federal General Budget 2023-2026 with total estimated expenditures of AED 252.3 billion
• Maktoum bin Mohammed: The Federal Budget is an essential pillar in the UAE’s development process, and the directives of our wise leadership help us achieve our development and social requirements for the coming years
• Maktoum bin Mohammed: The Federal Budget is subject to continuous reviews in order to keep pace with all changes, trends, and directives. Our goal is to ensure that the Federal Government operates with the highest standards of financial efficiency
• Maktoum bin Mohammed: The financial resources of the Federal Budget are sustainable, and the budget’s main objective is to strengthen the Federal Government in pursuit of its developmental, economic, and social goals
• Mohamed Bin Hadi: Maximising the efficiency of government spending and the optimal use of financial resources in strategically important sectors support the achievement of the country's development goals and policies
• Mohamed Bin Hadi: The Federal Budget 2023 contributes to developing services, providing the highest levels of social welfare, healthcare, and education, and bolstering the economic environment and investment infrastructure in the country
10 October 2022
United Arab Emirates, 10 October 2022: The UAE Cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, approved the federal budget 2023-2026, with a total estimated expenditure of AED 252.3 billion and estimated revenues of AED 255.7 billion. A budget for the year 2023 has been allocated, with total estimated expenses of AED 63.066 billion, and total estimated revenues presented for approval amounted for AED 63.613 billion.
His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance, noted that the government prioritises the happiness and prosperity of the UAE people. His Highness also mentioned that the UAE, under the leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, and the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, has laid solid foundations for the government work system to accelerate advancing sustainable development.
His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum said: “The Federal Budget is an essential pillar in the UAE’s development process, and the directives of our wise leadership help us achieve our development and social requirements for the coming years.” His Highness emphasised that the Federal Budget is subject to continuous reviews in order to keep pace with all changes, trends, and directives. Our goal is to ensure that the Federal Government operates with the highest standards of financial efficiency.
“The financial resources of the Federal Budget are sustainable, and the budget’s main objective is to strengthen the Federal Government in pursuit of its developmental, economic, and social goals,” His Highness added.
His Excellency Mohamed Bin Hadi Al Hussaini, Minister of State for Financial Affairs, affirmed that the Draft of the Federal Budget for the Fiscal Year 2023 was approved based on the provisions of Federal Decree Law No (26) of 2019 on Public Finance, and in accordance with the best international standards and practices. This is to maximise the efficiency of government spending and the optimal use of financial resources in strategically important sectors, thereby supporting the achievement of the country's development goals and policies.
His Excellency indicated that the largest share of the UAE Federal Budget 2023 was allocated to support the wise leadership's directions in developing government services, raising the level of well-being, happiness, and security for all community members, providing the highest levels of social welfare, healthcare, and education, and enhancing the economic environment and investment infrastructure in the country.
The UAE Federal Budget 2023 was approved with total expenditures of AED 63.066 billion and total revenues of AED 63.613 billion. The budget was allocated to the social development and social benefits sector, government affairs sector, financial investments sector, and other federal expenses.
Social Development and Social Benefits sector
AED 24.8 billion (39.3% of the total general budget) were allocated to the social development and social benefits sector. AED 9.8 billion (15.5% of the total general budget) were allocated to public and university education programmes. AED 4.8 billion (7.6% of the total general budget) were allocated to the healthcare and community protection. AED 3.5 billion (5.6% of the total general budget) were allocated to the social affairs. AED 5 billion (8% of the total general budget) were allocated to the pensions.
Government Affairs sector
AED 23.9 billion (38% of the total general budget) were allocated to the Government Affairs sector.
Infrastructure and Economic resources
AED 2.4 billion (3.8% of the total general budget) were allocated to the Infrastructure and Economic resources.
Financial Investments sector
AED 2.1 billion (3.4% of the total general budget) were allocated to the Financial Investments sector, including AED 753 million allocated to the Federal Investment projects.
Other Federal Expenses
AED 9.8 billion (15.5% of the total general budget) were allocated to other Federal expenses.
