UAE launches 2027–2029 budget cycle
The new cycle aims to enhance fiscal sustainability, promote operational efficiency, and align government financial planning with the national vision for a more agile, proactive, and digitally enabled future.
The announcement coincided with the unveiling of the federal government's new strategic planning framework, 'Towards Achieving We the UAE 2031', by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
UAE budget cycle
The new cycle marks a transformation of the federal budget from a traditional annual resource allocation tool into a strategic enabler that empowers federal entities to achieve national priorities.
Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance, stated that the new cycle is part of a broader government approach driven by flexibility, proactivity, and policy integration.
He said: 'Achieving the ambitions of the UAE Centennial 2071 requires a financial system that is agile and future-focused, a system that can respond to global shifts and direct government spending toward high-impact opportunities.
'To that end, the MoF is investing in smart tools and advanced analytical models that ensure financial efficiency, optimise impact, and enable data-driven decision-making aligned with the nation's developmental, economic, and social goals.
'Our vision is to transform the federal budget into a future-ready instrument that drives sustainable growth and elevates the quality of government services to new heights'.
Over the previous four strategic budget cycles, the UAE's total federal budget reached approximately AED900bn ($245bn), with sustained investment in key sectors such as education, healthcare, social welfare, and essential government services.
The Ministry of Finance has maintained fiscal stability, with public debt standing at AED62.1bn ($16.9bn) as of June 2025, and federal government assets reaching AED464.4bn ($126.3bn) by the end of 2024.
This solid financial foundation supports the UAE's commitment to transforming the budget process into a performance-based, result-oriented system powered by artificial intelligence and advanced digital platforms.
Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, highlighted the Ministry's efforts to overhaul traditional financial operations.
Notable achievements include:
Reducing budget preparation steps from 50 to 10
Shortening procurement cycles from 60 days to under six minutes
Transitioning to a fully integrated digital financial system
Al Hussaini stated that the Ministry has shifted from being a supervisory authority to a key enabler of institutional performance, focused on customer satisfaction and service excellence.
The 2027–2029 cycle reflects a comprehensive vision to:
Integrate artificial intelligence into financial governance
Enable predictive and scenario-based financial planning
Support unified and accurate government-wide data
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
TAG 91.1
22 minutes ago
- TAG 91.1
UAE, Hungary leaders explore new avenues for partnership
UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Hungarian President Tamás Sulyok have held high-level talks in Budapest, focusing on strengthening cooperation between the two countries. The discussions, held at the Hungarian Parliament Building, covered key sectors including the economy, renewable energy, trade, investment and culture. Both leaders reaffirmed their commitment to deepening bilateral ties and exploring new opportunities for collaboration. Sulyok expressed hope that the visit would further advance relations, while Sheikh Mohamed highlighted the shared values and mutual respect that underpin the UAE-Hungary partnership. Following the talks, His Highness signed the VIP guestbook, expressing his appreciation for the warm welcome and the growing ties between the two nations. The two leaders also exchanged symbolic gifts reflecting their countries' rich heritage. The meeting was attended by senior officials from both sides. Following the talks, Sheikh Mohamed concluded his official visit and departed Budapest. — محمد بن زايد (@MohamedBinZayed) July 18, 2025
Khaleej Times
22 minutes ago
- Khaleej Times
UAE, Turkey sign 7 bilateral agreements during Sheikh Mohamed's visit
UAE President Sheikh Mohamed bin Zayed Al Nahyan paid a state visit to Turkey on the occasion of the first meeting of the Supreme Strategic Committee between the two countries, which was held in Ankara on July 16. The meeting of the Supreme Strategic Committee reflected the commitment of both countries to strengthening bilateral relations and expanding close cooperation in various areas of common interest. Seven bilateral agreements and memoranda of understanding were signed during this visit, an official statement said. The discussions covered several areas of cooperation that have witnessed rapid growth in recent years, including the economy, trade, defense, innovation, cybersecurity, industry, technology, education, culture, energy, including renewable energy, environment, transportation, infrastructure, agriculture, and tourism. Stay up to date with the latest news. Follow KT on WhatsApp Channels. Within the framework of the Comprehensive Economic Partnership Agreement, and based on bilateral economic, trade, and investment mechanisms, including the Joint Economic Committee and the Joint Economic and Trade Committee, the two sides discussed ways to enhance investment and trade exchanges, including exploring opportunities to establish integrated and flexible trade routes, in addition to exploring areas of cooperation to promote sustainable economic growth and provide facilities to support regional and international trade. They also exchanged views on enhancing cooperation between the public and private sectors in the two countries, with the aim of consolidating bilateral partnerships and supporting cooperation opportunities with other countries. Their commitment to enhancing cooperation in the energy sector was also renewed, emphasizing the pivotal role of sustainable, secure, and diversified energy resources in driving economic growth and enhancing the ability to adapt to climate change. They emphasized their shared aspirations to explore practical opportunities to support the energy transition process, in line with national priorities. In this regard, UAE and Turkey welcomed the global goal contained in paragraph (28) of the "Global Stocktake" outcomes adopted at the Conference of the Parties (COP28), which is to double the rate of improvement in global energy efficiency and triple the production capacity of renewable energy by 2030. They affirmed their keenness to contribute to achieving this goal through measures implemented at the national and bilateral levels. The two sides renewed their joint commitment to strengthening bilateral cooperation based on mutual trust and friendly ties, especially in the fields of renewable energy and hydrocarbons, through the implementation of joint projects, to the benefit of both countries. They also emphasized the importance of the UN Water Conference 2026, hosted by the UAE in partnership with the Republic of Senegal, scheduled to be held in the UAE in December 2026. The conference highlights the importance of accelerating the implementation of Sustainable Development Goal 6, to ensure access to water and sanitation for all and their sustainable management. The two sides also commended the Mohammed bin Zayed Water Initiative for its outstanding contributions to promoting technological innovation to address challenges related to water scarcity. The two sides emphasized the importance of maintaining the remarkable progress in bilateral relations, highlighting emerging and advanced technologies as a promising area for future cooperation. They also emphasized the importance of highlighting the pivotal and dynamic role of young, highly educated cadres in both countries in driving innovation, enhancing competitiveness, and promoting sustainable economic growth. Both sides reiterated their commitment to strengthening cooperation in the field of advanced digital technologies. The two leaders emphasized the importance of cooperation in cultural and social fields and agreed to enhance exchanges that contribute to strengthening the bonds of brotherhood between the Emirati and Turkish peoples. Both sides reiterated their commitment to enhancing cooperation in the fields of defense and security through capacity building and the exchange of expertise and knowledge. This historic visit marked a pivotal moment for discussing bilateral issues and regional developments. During the visit, both sides affirmed their shared commitment to working together to promote dialogue and the principles of international law, reflecting the two countries' role in supporting regional security, stability, and prosperity, thus contributing to an environment of peace, stability, security, and prosperity in the region. Sheikh Mohamed bin Zayed Al Nahyan, Ruler of Abu Dhabi, expressed his deep gratitude to the Turkish President, for the warm welcome he and his accompanying delegation received during their visit to Turkey. They agreed to hold the next meeting of the Supreme Strategic Committee in Abu Dhabi in 2026, with the date to be determined.
Sharjah 24
24 minutes ago
- Sharjah 24
UAE, Hungarian Presidents strengthen cooperation
The talks took place at the Hungarian Parliament Building, where President Tamás Sulyok welcomed His Highness Sheikh The Hungarian President expressed his hope that the visit would contribute to further advancing bilateral ties and expanding avenues of cooperation in areas that serve the mutual interests of both nations. His Highness Sheikh Mohamed bin Zayed affirmed that the UAE and Hungary share a friendship and cooperative relationship based on mutual respect and a joint commitment to progress. He noted that these growing bilateral ties aim to support the aspirations of both nations and their peoples for development and prosperity. Both sides reaffirmed their commitment to strengthening UAE-Hungary relations and exploring new opportunities for mutually beneficial cooperation across a range of sectors. His Highness wrote an entry in the VIP guestbook expressing his pleasure to be visiting Hungary and noting the significant progress witnessed in relations between the two countries. He highlighted the UAE's keenness to continue working together to strengthen ties in a way that serves the shared development goals of both nations, and he wished Hungary, its leadership, and its people continued prosperity and success. His Highness and the President of Hungary also exchanged symbolic gifts reflecting the culture and rich heritage of their respective nations. The meeting was attended by the delegation accompanying His Highness the UAE President, along with a number of senior Hungarian officials. Following the meeting, His Highness Sheikh Mohamed bin Zayed Al Nahyan departed Budapest, concluding his official visit to Hungary.
