Maktoum bin Muhammad reviews the achievements of the Ministry of Finance in 2024 and mechanisms for enhancing financial sustainability in 2025

Dubai, January 29/ WAM/ His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Governor of Dubai, Deputy Prime Minister and Minister of Finance, presided over a meeting to review the government financial work system and the most prominent results and plans to achieve the aspirations of the rational leadership. The meeting was attended by His Excellency Muhammad bin Hadi Al -Husseini, Minister of State for Financial Affairs, and Ministry leaders.

During the meeting, His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum stressed that what the Ministry of Finance achieved in 2024 is a basic pillar of building a sustainable future for the UAE, noting that the adoption of the largest budget in the history of the country and the remarkable success of the financing programs reflects the vision of our rational leadership that believes in By investing in the future of future generations, and continuing to work to enhance the state’s position is a global destination for investment and financial innovation, with a focus on achieving financial sustainability that supports ambitious development plans.

His Highness said: “With the directives of His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the State“ may God protect him ”, and the follow -up of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai“ may God bless him ”, we continue to adopt international best practices in financial management To enhance the Ministry’s role in supporting sustainable economic development, with a focus on achieving the strategic interests of the state at the local and international levels.

His Highness added: “The 2025 plan constitutes a strategic step towards achieving the vision of“ We Emirates 2031 ”and the“ Emirates 2071 Centennial ”targets, and through which we seek to enhance international financial cooperation, upgrade financial governance and the level of government services to achieve the welfare of our society, and we look forward to completing the march of achievements from During ambitious projects that enhance the state’s competitiveness in the global economy.

The most prominent achievements achieved by the Ministry of Finance were reviewed during the year 2024, and a milestone in the ministry’s march was formed towards achieving its strategic vision, as the year 2024 witnessed the adoption of the general budget of the Federation for the year 2025, which is the largest in the history of the state, allowing the launch of ambitious development projects aimed at strengthening The quality of life in Emirati society and the development of infrastructure, within the framework of the Ministry’s commitment to achieving the balance between economic growth and financial sustainability.
The Ministry also achieved remarkable success in innovative financing programs, as the government treasury bonds program and the Islamic treasury bonds program in dirhams led to the promotion of financial liquidity and the attracting of local and international investments, and contributed to the development of the financial market of the state.

In the same context, strong performance and wise financial policies contributed to maintaining the state’s sovereign credit rating by the international classification agencies “Fitch” and “Moody’s”, which strengthened the UAE’s position as a stable and safe investment destination and affirmed its ability to fulfill its financial obligations.

In the field of legislation, the Ministry was able to launch a package of new laws, develop tax laws and regulate financial policies, which strengthened the business environment and achieved integration between the tax system and financial legislation, and commitment to transparency and sustainability.

On the international level, the Ministry of Finance had a pivotal role in formulating financial policies through its active participation in the Group of Twenty meetings, the BRICS Group, and the major international financial organizations, which strengthened the state’s position as a major partner in addressing global economic issues.

During the year 2024, the Ministry of Finance witnessed many transformational projects that focused on achieving the goals of financial sustainability and enhancing government efficiency. These projects included the application of artificial intelligence in financial transmission, the development of the job budget system, and the automation of central matching operations, which contributed to accelerating procedures and increasing the accuracy of financial statements.

The Ministry also focused on the governance of government revenues procedures and to achieve the efficiency of government spending, which are strategic steps aimed at enhancing transparency and ensuring the optimal use of financial resources, and these projects, which come within the framework of the Ministry’s vision to enhance innovation and achieve sustainable development, contributed to providing practical solutions to support sustainable and strong economy And promoting the operational environment in the financial sector in a way that reflects positively on all economic sectors.

In addition, the ministry launched within its strategy innovative smart government services using the latest technologies, which led to improving efficiency, reducing bureaucracy and enhancing the experience of customers, as efforts included automating financial operations and procedures to accelerate transactions and achieve data accuracy, which reflected positively on the country’s business environment.

The meeting discussed the ministry’s work plan for 2025, which revolves around achieving the ministry’s strategies and seeing “We UAE 2031”, with a focus on innovation in developing financing tools, promoting financial governance, and supporting the national economy through initiatives that achieve sustainable growth, as well as highlighting projects The transformation that will contribute to enhancing the efficiency of financial management and consolidating the state’s position as a global center for investment and innovation.

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