Finance and Economics Committee reviews forecast of cash flow

The Finance and Economics Committee reviewed the forecast of the cash flow for the second half of the 2017-2018 fiscal year, based on the country’s expected overall income, while the transparency of these financial reports confirms an overall cash surplus that resulted from the policies of the 2016 general budget and the strength of the UAE economy. This provided the necessary cash flow to finance all economic and service projects and continue the construction and rebuilding of the country’s infrastructure, allowing the committee to take the necessary decisions and implement the appropriate recommendations.

The committee held its regular meeting today at the Presidential Palace, under the chairmanship of H.H. Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance, and attendance of H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Presidential Affairs and Deputy Chairman of the Committee, and H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, to discuss the UAE’s general budget.

The committee also discussed the UAE’s draft general budget for the 2018 fiscal year, after federal authorities updated their own budgets using an automated system, as part of the "Five-Year Plan 2017-2021" of the UAE Vision 2021, which aims to make the UAE among the best countries in the world in all areas.

Sheikh Hamdan bin Rashid said that the UAE’s wise leadership has established a solid foundation for government work, which supports the country’s future direction and the achievement of the UAE Centennial 2071, in order to have the best education system and the best economy while making the Emirati people the happiest in the world.

Sheikh Hamdan stressed that the UAE’s wise leadership spares no efforts to serve and realise the aspirations and ambitions of the country’s citizens and residents, as well as to maintain its standard of living while constantly raising it to the highest possible level, so the Emirati people will remain among the happiest in the world.

The country's wise leadership always aims for its citizens to live in safety, stability and tranquillity, he added.

Sheikh Hamdan highlighted the efforts of the Ministry of Finance to co-ordinate and co-operate with officials from other ministries and agencies and hold meetings on creating self-sufficient revenue streams for all federal bodies, through the launch of development projects that will provide additional income and will boost the financial resources of the country’s general budget.

He also stressed the desire of the Ministry of Finance to strengthen its relations with its strategic partners from federal and local government agencies, private sector institutions and local, regional and international organisations The meeting was also attended by Mohammad bin Abdullah Al Gergawi, Minister of Cabinet Affairs and The Future; Obaid bin Humaid Al Tayer, Minister of State for Financial Affairs; Dr. Abdullah bin Mohammed Belhaif Al Nuaimi, Minister of Infrastructure Development, and Mubarak Rashid Al Mansouri, Governor of the Central Bank.