Sheikh Mansour chairs general budget committee meeting

Abu Dhabi: Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, Sunday chaired the common assembly of the Common Funds Committee.

The assembly was attended remotely by Sheikh Abdullah bin Zayed Al Nahyan, Minister of Overseas Affairs and Worldwide Cooperation.

The committee mentioned the draft normal price range 2023-2026, along with the measures carried out by the Ministry of Finance to arrange the draft normal price range for 2023, as per federal legislation No. 26 of 2019 on public funds and associated selections.

The assembly touched on the federal authorities’s money flows anticipated in 2023 based mostly on federal our bodies’ estimates of revenues, utilizing the most recent expertise and the system of automation of forecasts of future revenues.

The committee has instructed the Ministry of Finance to finish its procedures for getting ready the draft normal price range for the following 5 years in keeping with the strategic aims to attain the UAE’s imaginative and prescient on preparation for the following 50 years.

It additionally mentioned built-in monetary insurance policies and procedures for financing capital tasks, and reviewed the federal authorities’s monetary place within the present fiscal 12 months, in mild of the particular bills and revenues generated within the first half of the 12 months, and the revenues anticipated for the remaining months of 2021.

The assembly was attended by Mohammed Abdullah Al Gergawi, Minister of Cupboard Affairs, Obaid Humaid Al Tayer, Minister of State for Monetary Affairs, and Khaled Mohammed Balama Al Tameemi, Governor of the UAE Central Financial institution, in addition to representatives from the Ministry of Finance.