Page:Constitution of the United Arab Emirates - official translation 2015.pdf/57

United Arab Emirates Constitution

The draft annual budget of the UAE, containing the estimated revenues and expenditures, are submitted to the Federal National Council at least two months before the beginning of the financial year, for discussion and remarks before the draft budget is submitted to the Federal Supreme Council together with those remarks for approval.

The annual general budget is promulgated by an Act.

Where the Budget Act is not promulgated before the beginning of the financial year, temporary monthly allocations may be made by federal decree on the basis of one twelfth of the allocations of the previous financial year; revenues are collected and expenditures are disbursed in accordance with the laws in force at the end of the preceding financial year.

A spending which is not included in, or is in excess of, the budget, and a transfer from a line item of the budget to another must be made by an Act.

However, in case of pressing urgency, such spending or transfer may be made by decree law in accordance with the provisions of Article 113 of the Constitution.