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In October 2016, the UAE Cabinet approved the federal budget draft for 2017-2021, with an estimated spending of AED 247.3 billion over five years, making the
UAE the first Arab country to prepare a periodic five-year budget
This budget is in line with the directives of Vice President and Prime Minister of the UAE and Ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, to prepare
a budget draft with plans for every five years to improve the level of social services, and upgrade the smart services of the government with the aim of increasing
customer satisfaction regarding the federal government's efforts to enhance the welfare, prosperity, happiness and security of community members.
"The government seeks to provide all the means and capabilities to meet the requirements of the national vision. This will make it one of the best
governments in the world through the optimal use of resources to enhance services provided to citizens and residents".
The future vision has been fully reflected in a budget that enables forward-looking programmes, plans and strategies while offering an in-depth overview of the targets, moving
towards accomplishment of the UAE Vision 2021. This budget supports comprehensive development programmes, with a view to keep pace with future developments on both
regional and international levels. The volume of the budget covers spending over five years, affirming the federal government’s commitment and MoF’s keenness to foresee the
future and prepare comprehensive strategies aiming to support medium and long-term development plans.
His Highness Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of
Dubai and UAE Minister of Finance, declared that the main goal of
preparing a budget draft with plans for every five years is to improve the
level of social services, and upgrade the smart services of the government
with the aim of increasing customer satisfaction regarding the federal
government's efforts to enhance the welfare, prosperity, happiness and
security of the people.
Sheikh Hamdan added that the ongoing support and encouragement of His
Highness Sheikh Mohammed bin Rashid Al Maktoum to continue the
genuine efforts and superb craftsmanship to be number one has paid off,
reflected by the UAE’s ranking of first position in the Public Finance Policies
Index in 2015 and first place in the Government Efficiency and Good
Management of Public Finances Index, in addition to the second place in
terms of budget surplus and third in terms of efficiency of government fiscal
policy among the top 10 countries worldwide in global competitiveness, as
well as other achievements in the Global Competitiveness Reports.
The budget draft for 2017-2021, submitted by MoF to the Cabinet, has an estimated spending of AED 247.3 billion
over five years. In coordination with the Ministry of Cabinet Affairs and The Future, MoF has cooperated with all federal
entities to ensure that the developed plans and programmes are in line with the strategic plan for 2017-2021.
The ministry has also made huge efforts during the last budget cycle 2014-2016, in order to develop the necessary
infrastructure and upgrade online financial systems so as to meet the requirements of the five-year plan as per the
future Government vision and according to leadership directives. The draft budget was prepared as per laws, the
Cabinet's resolution on extending the term of the budget plan from three to five years, and in accordance with the
provisions of the financial circular concerning preparing a draft budget on the basis of a medium-term plan for
2017-2021, which included the following:
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