While chairing a meeting to review the government financial work system

His Highness Sheikh Maktoum bin Mohammed reviews the achievements of the Ministry of Finance in 2024 and mechanisms to enhance financial sustainability in 2025

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, today chaired a meeting to review the government’s financial work system and the most prominent results and plans to achieve the aspirations of the wise leadership, in the presence of Mr. Mohammed bin Hadi Al Hussaini, Minister of State for Financial Affairs, and the ministry’s leadership.

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

His Highness wrote via the X platform: “Today, I chaired a meeting to review the achievements of the Ministry of Finance for the year 2024. Last year witnessed notable achievements, most notably the adoption of the largest budget in the history of the country for the year 2025, the success of financing programs such as government treasury bonds and Islamic treasury bonds that enhanced liquidity and attracted local and international investments and maintaining the country’s sovereign credit rating from international agencies. The year also witnessed the launch of a package of financial and tax legislation that enhanced the business environment, and we implemented transformational projects that relied on artificial intelligence to improve financial efficiency.”

His Highness added: “In 2025, the focus will be on enhancing international financial cooperation, improving financial governance, and innovating solutions that support the well-being of the Emirati community. With the vision of our wise leadership, we are continuing the development process to advance financial governance and the level of government services to achieve the well-being of our society. We look forward to completing the journey of achievements through ambitious projects that enhance the country’s competitiveness in the global economy.”

His Highness said: “Under 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 protect him, we continue to adopt the best international practices in financial management, to enhance the Ministry’s role in supporting sustainable economic development, with a focus on achieving the country’s strategic interests at the local and international levels.

” His Highness added: “The 2025 Plan constitutes a strategic step towards achieving the “We the Emirates 2031” vision and the goals of the “UAE Centennial 2071”, through which we seek to enhance international financial cooperation, improve financial governance and the level of government services to achieve the well-being of our society, and we look forward to completing the journey of achievements through ambitious projects that enhance the country’s competitiveness in the global economy.”

The most prominent achievements of the Ministry of Finance during 2024 were reviewed, and they constituted a milestone in the Ministry’s journey towards achieving its strategic vision, as the year 2024 witnessed the approval of the 2025 federal general budget, which is the largest in the country’s history, allowing the launch of ambitious development projects aimed at enhancing the quality of life in the Emirati community and developing the infrastructure, within the framework of the Ministry’s commitment to achieving a 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 dirham-denominated Islamic treasury sukuk program led to enhancing financial liquidity and attracting local and international investments and contributed to developing the country’s financial market.

In the same context, strong performance and prudent financial policies contributed to maintaining the country’s sovereign credit rating by the two international rating agencies “Fitch” and “Moody’s”, which strengthened the UAE’s position as a stable and safe investment destination and confirmed 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 enhanced the business environment and achieved integration between the tax system and financial legislation, and commitment to transparency and sustainability. 

At the international level, the Ministry of Finance played a pivotal role in formulating financial policies through its active participation in the meetings of the G20, the BRICS group, and major international financial organizations, which strengthened the country's position as a major partner in addressing global economic issues.

During 2024, the Ministry of Finance witnessed many transformational projects that focused on achieving financial sustainability goals and enhancing government efficiency. These projects included applying artificial intelligence in financial transfers, developing the job budget system, and automating central matching processes, which contributed to accelerating procedures and increasing the accuracy of financial data.

The Ministry also focused on governing government revenue procedures and achieving government spending efficiency, which are strategic steps aimed at enhancing transparency and ensuring the optimal use of financial resources.

 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 a sustainable and strong economy, and enhancing the operational environment in the financial sector, which positively reflects on all economic sectors.

In addition, the Ministry launched, as part of its strategy, innovative smart government services using the latest technologies, which led to improved efficiency, reduced bureaucracy and enhanced customer experience.

The efforts included automating financial operations and governing procedures to speed up transactions and achieve data accuracy, which had a positive impact on the business environment in the country.

The meeting discussed the Ministry’s 2025 action plan, which focused on achieving the Ministry’s strategies and the “We the Emirates 2031” vision, with a focus on innovation in developing financing tools, enhancing financial governance, and supporting the national economy through initiatives that achieve sustainable growth.