UAE tops in efficiency of government spending

dubai — The UAE improved its ranking to first place in the ‘Efficiency of Government Spending’ index,” a sub-criteria of the World Competitiveness Report, the Ministry of Finance said on Tuesday.

Since 2010, the UAE has achieved high rankings among the top 10 countries in the World Economic Forum’s “Efficiency of Government Spending” index, where the country rose from the 7th position globally, to 3rd in 2013, and then maintained the status of 2nd worldwide in 2014, 2015 and 2016 to now first in 2017, the ministry said in statement.

His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE, and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, stressed that the achievement is a reflection of the wise leadership’s vision and guidance in raising the efficiency of spending

the Uae is on the global competitiveness map as one the world’s most efficient governments Reem Ibrahim Al Hashimy, Minister of State for Int’l Cooperation and Chairwoman of the Federal Competitiveness and Statistics Authority

and directing it to serve the vital sectors in the country.

“The UAE’s first place in the ‘Government Spending Efficiency’ Index confirms the value and confidence of the UAE government’s global efforts and recognises the outstanding management capabilities and effective monetary and financial policies of the nation,” said Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and the UAE Minister of Finance.

Sheikh Hamdan praised the efforts of the Ministry of Finance officials as well as the cooperation between the various government bodies that played a pivotal role in ranking and achieving first place.

“The Ministry of Finance continues its efforts to adopt and implement best practices with regards to effective financial management that are based on a set of values and benchmarks aimed at protecting and developing the financial system and building a stable and sustainable economy that is flexible and diversified,” he said.

Reem Ibrahim Al Hashimy, Minister of State for International Cooperation and Chairwoman of the Federal Competitiveness and Statistics Authority said the UAE is on the global competitiveness map as one the world’s most efficient governments.

“I would also like to thank employees of both federal and local government entities in the UAE for their commitment and sense of responsibility to protect our nation’s resources, without compromising on providing the best service to ensure the happiness of UAE citizens and residents,” said the minister.

— issacjohn@khaleejtimes.com