The World Government Summit/launch of the 10th Public Finance Forum in the Arab Countries
DUBAI, 2nd February, 2018 (WAM) – The Tenth Public Finance Forum in the Arab Countries, organized by the Ministry of Finance in cooperation with the Arab Monetary Fund and the International Monetary Fund, was launched today in Madinat Jumeirah, Dubai, as part of the preliminary day of the World Government Summit 2026, with the participation of finance ministers in Arab countries, along with an elite group of economic experts and officials of regional and international financial institutions.
The forum is held under the title “The Future of Trade and Economy,” where it discusses financial policy trends in the Arab region in light of global economic changes, and ways to achieve a balance between the requirements of economic growth, financial sustainability, and climate action.
The forum focuses on anticipating the features of future financial policies, by discussing the most prominent challenges associated with the digital transformation of public finance, and the role of government technology and artificial intelligence in enhancing the efficiency of financial governance, improving public spending management, and enhancing the efficiency of resource allocation, in a way that supports sustainable economic development paths.
The forum sessions also discuss ways to enhance the flexibility of public finances in the face of global economic shocks, while emphasizing the importance of continuing structural reforms to ensure the sustainability of public finances and enhancing the ability to adapt to economic and financial fluctuations, in addition to reviewing financial policy tools that support raising the efficiency of government spending and enhancing levels of transparency and financial accountability.
Participants will discuss mechanisms for financing sustainable development, and the pivotal role played by regional and international financial institutions in supporting the efforts of Arab countries to achieve their economic and development goals, in addition to reviewing the opportunities and challenges associated with adopting advanced financial technologies, which contributes to accelerating the digital transformation in the financial sector and enhancing its competitiveness.
The forum concludes its work by holding a ministerial round table that brings together Arab finance ministers, along with the leadership of the International Monetary Fund and the Arab Monetary Fund, to discuss the implications of technological developments, most notably the applications of artificial intelligence, on public finance management, in addition to discussing the priorities of the next phase of public spending in light of global economic changes, and the impact of international crises and conflicts on economic and financial policies in the region.
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