Dubai: The Ministry of Finance has launched the federal general budget cycle for the 2027-2029 period, marking a new step in the continuous development of the government’s financial system. The move aims to enhance fiscal sustainability and aligns with the wise leadership’s vision for a more flexible and innovative future.
According to Emirates News Agency, this new cycle reflects the evolution of the general budget from a yearly planning tool into a strategic instrument that empowers federal entities to achieve their objectives efficiently and effectively. The launch coincided with the unveiling of the federal government’s new strategic planning cycle, ‘Towards Achieving We the UAE 2031’, by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance, stressed that the 2027-2029 federal budget cycle will play a key role in the development of the UAE’s public financial system and is part of a government approach driven by proactivity, flexibility, and policy integration. He noted that the Ministry of Finance is committed to redefining the role of the budget from a traditional resource allocation framework to a strategic enabler for mega national objectives, including strengthening global competitiveness, accelerating digital transformation, and reinforcing the UAE’s position as a leading international financial hub.
The newly launched budget cycle follows four consecutive strategic cycles during which the total federal budget reached approximately AED900 billion, aligned with ambitious national priorities. Over this period, the Ministry laid strong foundations for sound financial governance by enhancing legislative and regulatory frameworks, expanding international partnerships, and developing advanced digital financial systems.
Meanwhile, Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, emphasised that the 2027-2029 budget cycle builds on a solid foundation of fiscal accomplishments and reflects a forward-looking vision focused on empowering government entities and aligning strategy with performance indicators. He noted that the cycle integrates artificial intelligence as a key enabler of sustainable development and aims to transform the federal budget from a traditional financial tool into a flexible, strategic instrument that enhances operational efficiency, improves government performance, and supports the objectives of the UAE Centennial 2071.
The new federal budget cycle for 2027-2029 represents a significant leap towards smart financial management, underpinned by modern tools and proactive methodologies. Built on the pillars of performance-based planning and results-driven execution, this model harnesses artificial intelligence to strengthen decision-making and maximise the accuracy of resource allocation. Through this approach, the federal budget is redefined as a strategic enabler, driving operational efficiency, reinforcing financial sustainability, and solidifying the UAE’s global standing as a model for advanced public financial management.