Emirates News Agency – Directing financial resources to achieve highest quality of life for citizens and residents, says Hamdan bin Rashid
DUBAI, November 2, 2020 (WAM) – His Highness Sheikh Hamdan bin Rashid Al Maktoum, Deputy Governor of Dubai and Minister of Finance, has reaffirmed the support of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, was the main reason for the UAE’s excellence in directing financial resources to achieve the best quality of life for citizens and residents.
His Highness Sheikh Hamdan bin Rashid said: âThe federal budget for fiscal year 2021 conformed to the best international standards and applied the latest electronic systems, to improve the efficiency of spending and direct spending to strategically important areas. This, in addition to improving the government’s ability of entities to implement and achieve their objectives and programs with the required efficiency. “
The cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, approved the federal budget of AED 58.1 billion for fiscal year 2021, which is the final year of the five-year plan (2017-2021). The approval came after the announcement of the new federal government structure, which included merging departments and entities and changing powers and responsibilities.
Sheikh Hamdan praised the vision and guidance of the wise leaders in allocating financial resources to achieve the highest quality of life and happiness for the citizens and residents of the country, and to provide the highest levels of social protection to groups deserving. HH also welcomed the directives of wise leaders to provide the best health and education services and to develop the necessary infrastructure to improve local investments and attract foreign capital in the industrial, commercial, real estate and service sectors. This, in addition to providing a network of modern roads and distinguished government services.
HH noted that the main objectives of the preparation of the federal budget and its preparation in the form of periodic plans are to improve the level of social services provided; focus on upgrading smart government services and increasing customer satisfaction level; and highlight the federal government’s efforts to ensure the well-being, prosperity, happiness and security of all members of the community.
HH said, âThe wise leadership has laid a solid foundation for the work of the government that supports the UAE’s directions and march to achieve the UAE Centenary 2071. The above is aimed at positioning the UAE to first place in the world in various fields; to make it the best country and the best government in the world; and to provide it with the best health system according to the highest international standards. higher education, the best competitive knowledge-based economy and the happiest community in the world. â
The Ministry of Finance, MoF, organized remote workshops for all federal entities, to train their specialists on the procedures, steps and rules required to prepare the federal budget in accordance with the zero-based budgeting system, ZBB, of the federal government. The workshops also explained the decisions and the financial circular issued regarding the preparation of the 2021 draft budget.
In line with UAE’s smart government strategy and its continuous efforts to develop all electronic systems in all government entities, the Ministry of Finance, in cooperation with the Federal Human Resources Authority of the government, launched the system. smart for jobs budgets. The system aims to automate periodic work budgeting procedures and eliminates paper transactions.
The 2021 federal budget emphasizes the orientation of federal financial resources to achieve the objectives and programs of federal entities in accordance with the government’s strategy, in order to ensure sustainable and balanced development. This is in line with the mission of the Ministry of Finance to ensure the best use of government resources and to implement effective financial policies. Federal entities updated their budget proposals for fiscal year 2021 in the automated budget preparation system as part of the five-year plan 2017-2021 – in line with the UAE Vision 2021 and the UAE Centenary 2071.
Federal budget allocations for fiscal year 2021 have been distributed among the different sectors as follows: First: Social development and social benefits AED 26.04 billion (42.6% of budget) have been allocated to social development sectors and social benefits, and AED 9.6 billion (15.7% of the budget) has been allocated to public, higher and university education programs. Of the aforementioned 9.6 billion, AED 6.2 billion (10.2% of the budget) was allocated to public education programs, and AED 3.4 billion (5.5% of the budget) was allocated to public education programs. been allocated to higher education and university programs.
4.97 billion AED (8.1% of the budget) has been allocated for health care and disease prevention, in order to provide the best health care to citizens and residents. All the funds necessary to mitigate the COVID-19 pandemic have also been allocated.
3.4 billion AED (5.6% of the budget) has been allocated for social rights and activation of community integration, to ensure the country’s sponsorship of those who deserve support and to provide grants to special groups in need of care.
4.6 billion AED (7.6 percent of the budget) has been allocated to social protection programs for military ex-combatants and civilians’ pensions.
Second: Government Affairs AED21.3 billion (34.8% of the budget) has been allocated to government affairs, in order to provide the latest services and bring justice to all members of the community. The is in line with the vision of the wise rulers for the UAE to be a safe and secure country for its citizens and residents.
4.5 billion AED (7.4 percent of the budget) has been allocated for infrastructure and economic resources, and 19.3 billion AED (31.6 percent of the budget) has been allocated for social development. AED 4.6 billion (7.6 percent of the budget) was allocated to social protection programs and AED 7.7 billion (12.7 percent of the budget) was allocated to other federal spending . AED 3.1 billion (5% of budget) has been allocated to financial assets and investments, representing the federal government’s contribution to the Emirates Investment Authority, EIA, Emirates Development Bank, EDB and Etihad Rail. In addition, AED 529 million has been allocated to other services.
Third: Federal projects: AED 3.93 billion has been allocated to federal projects and has been distributed as follows:
AED 126 million has been allocated to the UAE Space Agency. 963 million AED have been allocated to infrastructure development projects.