Media ININ Economy We Trust
10-03-2019 Media in\ Abu Dhabi
The Finance and Economic Committee held its regular meeting today under the chairmanship of HH Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance at Al Watan Palace in Abu Dhabi, in the presence of His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs.
The meeting was attended by HE Mohammed bin Abdullah Al Gergawi, Minister of Cabinet and Future Affairs, HE Sultan bin Saeed Al Mansouri, Minister of Economy, HE Obaid Bin Humaid Al Tayer, Minister of State for Financial Affairs and HE Abdullah bin Mohammed Balheif Al Nuaimi, Minister of Infrastructure Development.
The Committee reviewed the draft general budget of the Union and a number of topics, the most important of which is the general budget of the Union for the fiscal year 2020 and the additional financial appropriations for 2019.
The Committee also reviewed the requests for additional financial allocations for the year 2019 received from the federal authorities during the first quarter of 2019 and took appropriate decisions and recommendations. The expected cash flows for the years 2019-2020 were discussed in light of the financial statements of the federal authorities.
The Committee reviewed the expected cash flows for the first half of the financial year 2019-2020. It reviewed some of the future projects of the federal government, which aims to raise the efficiency and effectiveness of government services, develop financial procedures and improve the level of government performance and take appropriate decisions and recommendations.
The Committee also reviewed the draft general budget of the Federation for the fiscal year 2020 and reviewed the procedures carried out by the Ministry of Finance to update the draft budget 2020 and directed the completion of the procedures in accordance with the financial circular issued by the Ministry of Finance in this regard.
