During a UAE Cabinet meeting chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, several key decisions were made. The Federal General Budget for 2024-2026, totaling AED 192 billion, was approved. The budget allocates 42% to social development and benefits, 39% to government affairs, and the remainder to infrastructure, economic resources, financial assets, and other federal expenses.
A Financial Stability Council was established to safeguard the UAE’s financial system, with His Highness Sheikh Mansour bin Zayed Al Nahyan as its head. The UAE Drug Corporation was also approved to regulate and license medical and pharmaceutical products, enhancing national pharmaceutical security and capabilities.
Additionally, the Cabinet passed policies on urban and rural area classification, a Digital Government Service Policy, and reduced fees for industrial companies registered in the National In-Country Value (ICV) Program. Media outlets were temporarily exempted from federal fees during COP28, and various executive regulations were approved, including genetic fingerprinting, civil personal status for non-Muslims, and cooperatives.
The Cabinet also endorsed international agreements, the restructuring of the UAE Space Agency’s Board of Directors, and the participation of the UAE in IMF trusts. Government reports for 2022 and H1 2023 were reviewed during the meeting.
