UAE tops Gov­ern­ment Spend­ing in­dex Coun­try’s first place con­firms value and con­fi­dence of gov­ern­ment’s ef­forts: Ham­dan

The Gulf Today - Business - - Front Page -

ABU DHABI: The Min­istry of Fi­nance an­nounced that the UAE was ranked first in the ‘Ef­fi­ciency of Gov­ern­ment Spend­ing’ in­dex, a sub-cri­te­ria of the World Com­pet­i­tive­ness Re­port 2017- is­sued by the World Eco­nomic Fo­rum (Davos) in Switzer­land, hav­ing ranked sec­ond for three pre­vi­ous years.

Since 2010, th e UAE has achieved high rank­ings among the top 10 coun­tries in the “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.

Sheikh Ham­dan Bin Rashid Al Mak­toum, Deputy Ruler of Dubai and Min­is­ter of Fi­nance, pre­sented this achieve­ment to 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, stress­ing that this suc­cess is a re­flec­tion of the wise lead­er­ship’s vi­sion and guid­ance in rais­ing the ef­fi­ciency of spend­ing and di­rect­ing it to serve the vi­tal sec­tors in the coun­try, which would meet the re­quire­ments of sus­tain­able de­vel­op­ment process and achieve pros­per­ity and af­flu­ence for the na­tion and its res­i­dents.

“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 UAE,” said Sheikh Ham­dan.

He praised the ef­forts ex­erted by all the work­ing teams in the Min­istry of Fi­nance as well as the fruit­ful co­op­er­a­tion be­tween the var­i­ous gov­ern­ment bod­ies, which played a piv­otal role in rank­ing and achiev­ing first place. “The Min­istry of Fi­nance con­tin­ues its ef­forts to adopt and im­ple­ment the best prac­tices with re­gards to ef­fec­tive fi­nan­cial man­age­ment, which are based on a set of val­ues and bench­marks aimed at pro­tect­ing and de­vel­op­ing the fi­nan­cial sys­tem.

Since 2010, the UAE has achieved high rank­ings among the top 10 coun­tries in the “Ef­fi­ciency of Gov­ern­ment Spend­ing” in­dex.

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