The North's first devolved budget in almost 30 years has been unveiled with increases in spending in all departments.
Assembly members from all parties were generally supportive of the budget, which allocated over £5.8 billion sterling, to be spent by the 10 local departments.
The Minister of Finance and Personnel said it was "an important foundation" for the future of the North. Mr Mark Durkan said the budget and next week's Programme for Government announcement constitute a significant stage in the implementation of the Belfast Agreement.
"It represents a milestone for the Executive. It demonstrates that we can and do work together effectively in pursuit of the interests of all the people in this community."
The Executive's Programme for Government will be announced next week and will define the programmes to be undertaken in more detail.
The Minister said he was announcing a draft budget which would be voted on by the Assembly in December after consideration by the finance and personnel committee.
Departments will also have to provide plans and targets to secure their funding, he said. Mr Durkan said part of the budget increase would be paid for by a 6.6 per cent increase in rates for businesses.
The Finance and Personnel committee's deputy chairman, Mr James Leslie said the increases were mostly due to the "largesse" of the British Chancellor of the Exchequer gearing up for the next general election.
The two biggest spending departments - health and education - headed by Sinn Fein ministers Ms Bairbre de Brun and Mr Martin McGuinness respectively, both received rises of over 7 per cent. The health department will have a budget of £2.3 billion and the education department will spend £1.3 billion. Farmers and the environment will benefit from the largest budget increases - 16.2 per cent and 14.4 per cent to the Department of Agriculture and Rural Development and the Department of the Environment respectively.
The Department of Culture, Arts and Leisure received an 8.3 per cent increase. The Department of Enterprise Trade and Investment gained 1 per cent more. Mr Durkan announced five special funds, including a children's fund, relating to areas of the Programme for Government. Departments could apply for access to these funds, which would allow the Executive to redirect cash towards "our region's priorities". The new approach should be pursued in ways which integrate the roles of the different departments, the Minister said.
"We need to work together more effectively, with both policy and practice focused on obtaining the best possible outcome rather than being dominated by the point of view of any individual department."
Mr Durkan also announced funding for three schemes in urgent need. A pilot programme for housing schemes for Travellers will receive £2 million, as will a beef quality scheme.
The minister also said he was allocating £20 million to railway infrastructure as "the Executive believes the urgency of the need for decisions on the railways issue is such that it would be appropriate to make provision now".
Mr Durkan said the budget was an important boost to spending power, which allowed vital advances and developments for a range of services.
"We remain, however, disappointed that the share of spending power we have received for our services is markedly less of an increase than applies in England, Scotland and Wales," he said.
"We are continuing to press for a more equitable and sustainable approach to the allocation of spending," he told the Assembly.