The UAE Cabinet, headed by Sheikh Mohammed bin Rashid Al Maktoum, Vice President of the UAE and Ruler of Dubai, approved the general budget of the Federation until 2026 with a total of 290 billion dirhams (78.950 billion dollars).
Bin Rashid said in statements reported by the Emirates News Agency (WAM), today, Tuesday: "The federal budget has been approved today, and the adoption of the new methodology for government work, is a message that we are on the cusp of greater, better and more beautiful federal years."
Bin Rashid added: "Within the Cabinet, we approved the appointment of Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum as Chairman of the General Budget Committee of the Federation and Chairman of the Federal Tax Authority."
And he indicated that Sheikh Shakhbut bin Nahyan was appointed as Chairman of the Executive Committee of the UAE-Saudi Coordination Council, and Abdullah bin Sultan Al Nuaimi as Chairman of the Judicial Coordination Council.
He pointed out that the establishment of the Emirates Infrastructure and Housing Council, headed by Suhail Al Mazrouei, was approved, with the aim of unifying federal and local housing efforts, consolidating coordination with regard to road and infrastructure projects, and building an urban and housing road map for the state.
He pointed out that the cybersecurity standards for government agencies proposed by the Emirates Cyber Security Council have also been approved.
He said, "Our borders in cyberspace are sovereign borders that we always need to protect and entrench their defences."
And the UAE federal budget, which mostly represents about 14% of the total financial spending in the country, and the seven emirates - especially oil-producing Abu Dhabi - provide the rest.
Each local government of the seven emirates has its own budget, which in many cases exceeds the value of the federal budget, especially in Abu Dhabi and Dubai, which each adopt a huge budget for expenditures, including contributing to the financing of the federal budget.
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