The Tenth Public Finance Forum in Arab Countries discusses issues of financial stability and digital transformation
Dubai, February 2, 2017 – The Tenth Forum on Public Finance in the Arab Countries, which is being held as part of the World Government Summit 2026, discussed a number of strategic issues related to the future of financial policies in the region, with the participation of finance ministers, economic experts, and representatives of regional and international financial institutions.
The main session, which focused on financial stability in light of global economic challenges, discussed ways to enhance the resilience of Arab economies in the face of international economic variables, including oil price fluctuations, global inflation levels, and the effects of financial tightening, and stressed the importance of diversifying sources of income, strengthening financial reserves, and building financial systems capable of absorbing shocks.
In the session on digital transformation in public financial management, participants reviewed the role of technology in developing the efficiency of public financial management, with a focus on employing digital solutions to enhance transparency, improve the quality of financial data, and support anti-corruption efforts, in addition to developing smart government spending systems.
The session on financing sustainable development and partnerships with the private sector discussed mechanisms for financing long-term development projects, highlighting the pivotal role of partnerships between the government and private sectors in accelerating the implementation of development projects and expanding investment opportunities in strategic sectors, in a way that supports the achievement of sustainable development goals.
The session on managing public debt and enhancing financial sustainability touched on the best international practices in government debt management, the importance of maintaining sustainable debt levels that support economic growth, and stressed the necessity of adopting balanced financial policies that enhance economic stability in the long term.
His Excellency Dr. Fahd bin Mohammed Al Turki, Director General and Chairman of the Board of Directors of the Arab Monetary Fund, stressed during the sessions that digital transformation in public finance is no longer limited to the digitization of government services, but has evolved to include applications of financial technology and artificial intelligence, as two pivotal tools for enhancing revenues, raising the quality of financial decision-making, and enhancing transparency and governance.
His Excellency added that these technologies open new horizons for countries with the most fragile economic structures to enhance their institutional capabilities and accelerate economic recovery paths.
The participants stressed the importance of enhancing Arab financial integration and exchanging experiences in the fields of digital transformation and financial governance, in a way that supports the process of sustainable economic development in Arab countries during the next stage.
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