"Finance" It organizes a workshop on the preparation of the government public budget in cooperation with the International Monetary Fund

Dubai, May 25 / WAM / The Ministry of Finance, in cooperation with the International Monetary Fund, organized a specialized workshop entitled “Preparing the Governmental Public Budget according to the GFSM 2014” in Dubai, with the participation of representatives of the Ministry of Finance, the Emirates Central Bank, the Federal Center for Competitiveness and Statistics, and local financial departments at the state level.

The workshop, which is presented by specialized experts from the International Monetary Fund, comes in a period of four days, as part of the Ministry’s efforts to develop the capabilities of government agencies in the state and technical teams and enable them to collect, address and publish government financial statements accurately and systematically, while enhancing institutional cooperation between the relevant authorities, and benefiting from the expertise of the International Monetary Fund in this vital field, in a way that contributes to raising the quality of financial statements, and enhancing transparency and competitiveness at the regional and international levels.

His Excellency Saeed Rashid Al -Yatim, Assistant Undersecretary of the Budget and Government Revenue Sector, stressed that the organization of this workshop reflects the continuous commitment of the UAE to develop the structure of public statistics, by adopting international standards and providing a specialized training environment that enhances the readiness of government agencies to prepare the public budget report accurately and transparently.

He said that the public budget represents a strategic tool to support decision makers by providing a comprehensive image of government assets and obligations, in order to enhance the efficiency of financial planning and contribute to directing resources effectively and sustainable.

He added that the workshop constituted a valuable opportunity to determine technical needs, and to develop a common national vision between the federal authorities and the financial departments at the state level on the methodology of preparing the public budget report, stressing the proceeding to support the process of developing financial statistics in cooperation with international institutions, in a way that enhances the transparency of the financial system and devotes the UAE’s leadership in the field of financial governance.

For their part, the International Monetary Fund experts praised the level of interaction and commitment made by the Emirati government agencies, stressing the importance of these workshops in accelerating the pace of progress in preparing public budgets in accordance with international standards, and praising the state’s efforts to consolidate modern financial governance practices.

The workshop axes included the theoretical framework for government statistics and public budget components, in addition to reviewing the methodologies for preparing the public budget report based on government financial statements, as well as highlighting successful international experiences in the field of preparing and publishing public budget data, evaluating the available data sources at the federal and local levels, and developing institutional and technical aspects related to collecting and publishing data, along with discussing a road map. National for the gradual implementation of the public budget in order to support enhancement of transparency and raising the efficiency of government statistics report.

These efforts are part of the strategic directions of the UAE towards promoting financial transparency, applying the latest international standards, and achieving leadership in government financial reports, in line with the vision of “We Emirates 2031”.

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