Younes Haji Al Khoury, Undersecretary of the UAE Ministry of Finance, expects that the first issuance of federal bonds or sukuk will be during the last quarter of the current year or with the beginning of the first quarter of the next year 2021 .
Al-Khoury explained, according to Al-Ruya newspaper, that the Ministry of Finance is working with its strategic partners around the clock to monitor the market situation and developments in the business environment and to develop urgent solutions as well as medium and long-term incentive plans. , Which guarantees protecting economic gains and accelerating economic recovery
and indicated that the federal government has adopted the principle of the zero-based budget without any deficits, stressing that there is no need for issuance in order to fill a deficit in the public budget except in accordance with the controls specified by the Public Debt Law .
It is expected that decisions will be issued by the Council of Ministers during the coming period regarding the amendment of service fees for ministries and federal bodies, as the Ministry of Finance continued the fee review project and submissions were submitted to the Cabinet in this regard.
Regarding the Corona crisis, Al-Khoury said that overcoming this global epidemic crisis and crossing into the future in peace is one of the most important priorities of the UAE government.
On the value-added tax and its feasibility under the current circumstances, Al-Khoury emphasized that the outputs of the value-added tax policy and the revenues from it have enabled the government to improve health services and education. p>
