He emphasized that it keeps pace with global economic changes without prejudice to national development priorities
Mohammed bin Rashid approves the budget of the Union with estimated expenditures of 58.1 billion dirhams
Mohammed bin Rashid presiding over the cabinet meeting.
WAM
Mohammed bin Rashid in an interview with Saif bin Zayed on the sidelines of the Cabinet meeting.
WAM
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The Council of Ministers, headed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, approved the General Budget of the Union 2021, with a total estimated expenditure of 58.1 billion dirhams.
His Highness Sheikh Mohammed bin Rashid Al Maktoum said: "Despite the global economic conditions, our projects are ongoing, our priorities are permanent, and the social development sectors will not be touched."
His Highness stated that «the efficiency of government spending in the UAE is among the highest in the world, and we look forward to a better and more successful year in 2021», adding that «the general budget of the Union in 2021 keeps pace with global economic changes without prejudice to national development priorities.
His Highness Sheikh Mohammed bin Rashid said: “Our message to all federal authorities for the fiscal year 2021 is balance in spending, flexibility in plans, and efficiency in budgets.”
His Highness affirmed that "the UAE will be among the fastest recovery in 2021 ... and the government has all the tools to deal with various scenarios."
This came during the approval of His Highness the federal budget for 2021, during the cabinet meeting, which was held at the Presidential Palace in Abu Dhabi, yesterday, in the presence of His Highness Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior, and His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs.
In detail, the federal budget for 2021 was approved, with expenditures amounting to 58 billion and 113 million dirhams.
The federal budget reflects the strength of the national economy and the abundance and sustainability of resources to finance developmental, economic and social projects, as its allocations for the fiscal year 2021 were distributed among various sectors, confirming the continuation of the UAE's approach to achieving balance between expenditures and revenues, as it focuses during the next year on ambitious plans and projects that foresee new horizons. Towards the future.
The federal budget aims, in accordance with its objectives and the initiatives under it, to raise living standards and provide a decent life for citizens and residents in the UAE, as allocations have been distributed over a number of sectors to include social development, social benefits, programs, projects and initiatives that will enhance the education sector in the country, and improve the quality Health care to provide the highest levels of medical services to the country's residents, support housing programs for citizens, and enhance the quality of life for all members of society.
During its session, the Council of Ministers reviewed a report on the most important achievements of the Emirates Investment Authority during the stages that the agency has gone through since its establishment in 2007, and the report reviewed the financial performance of the agency, its endowment and strategic assets, in addition to the strategic directions and future plans of the agency.
The Council reviewed the axes of focus for the agency in the next phase to support government directions and national files, and to achieve its vision aimed at shaping the future of the UAE.
During its session, the Council of Ministers approved the restructuring of the Emirates Youth Council, headed by the Minister of State for Youth Affairs, Shamma bint Suhail Al Mazrouei, and the updating of some of the specializations entrusted to it, in light of the developments and changes witnessed by the federal government, and achieving future visions for the youth sector in the country.
The Council acts as an advisory body to the UAE government on issues pertaining to youth, as it is a link between youth and decision-makers in the country, and includes in its membership, according to the approved formation, each of: Nadim Khamis Al Kathiri, Khaled Abbas Al Balushi, Alia Easa Al Hazami, Sarah Abdul Wahab Al Awadi, Fatima Ali Al Minhali, Salima Abdullah Al Mazrouei, and Hashem Hayy Al Kaabi.
In government regulatory affairs, the final account of Emirates Real Estate Corporation was approved for the fiscal year 2019, as the corporation witnessed an overall growth in its revenues for the past year by 23% compared to the previous year.
The Council reviewed the report of the Ministry of Community Development on the achievements of the National Opportunities for Volunteering During Crises team, as the report reviewed the most important initiatives and results that were achieved, and included achievements in the fields of field volunteer work and the areas of virtual volunteer work.
The Council of Ministers directed all federal government sectors to include the media identity of the UAE, within the initiatives and activities of the federal government agencies, and its visual identity, in addition to including it in the main campaigns and events organized and supervised by these entities and their affiliated sectors, with the aim of contributing to the consolidation of the use of the logo, according to the evidence The guideline approved by the Media Office of the Emirates Government, being the relevant official authority in the country and responsible for everything related to its visual media identity, and the importance of prior coordination with the media office in the uses of the identity, the logo and not modifying or changing any of its axes in any way, to In addition to directing all local governmental and non-governmental bodies, leading national companies in the private sector, and civil and humanitarian institutions, to use the media identity and slogan, in a way that contributes to uniting efforts in promoting the story and march of the UAE to the world.
Vice President of the State:
"Our message for the fiscal year 2021 is ... balance in spending, flexibility in plans, and efficiency in budgets."
"The efficiency of government spending in the Emirates is among the highest in the world ... We look forward to a better and more successful year in 2021."
"The UAE will be among the fastest in recovery in 2021 ... and the government has the tools to deal with various scenarios."
7 agreements to enhance international cooperation
The Council endorsed and approved a number of agreements between the UAE government and a number of friendly countries.
This included ratification of the agreement of the UAE government and the government of the State of Israel regarding mutual exemption from entry visa requirements.
And two agreements between the UAE government and the Republic of Sierra Leone regarding the mutual encouragement and protection of investments, the avoidance of double taxation and the prevention of tax evasion imposed on income and capital.
And two agreements with the government of Burkina Faso and the government of the Republic of Ghana on the avoidance of double taxation and the prevention of tax evasion on income.
In addition to the ratification of two agreements with the government of Guatemala and the government of Rwanda regarding air services between the state’s territory and the territories of these countries and beyond.
Restructuring the Emirates Youth Council headed by the Minister of State for Youth Affairs, Shama Al Mazrouei, and updating some of its functions.
Directing to include the state's media identity and slogan in the initiatives of federal and local government agencies and the private sector.
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