The United Arab Emirates’s Ministry of Finance (MoF) recently held
its first Government Financial Policy Coordination Council meeting of 2017, allowing
governmental officials to discuss national fiscal policy.
HE Younis Haji Al Khoori, undersecretary of the MoF and chairman of the council, led the meeting with Saeed Rashid Al Yateem, the council’s vice chairman and the MoF’s assistant undersecretary of resources and budget sector. Also in attendance were council members
and representatives from finance departments and the UAE Central Bank.
The meeting covered a review of fourth
quarter 2016 financial statements and of a World Bank mission’s recent visit to the country, which highlighted ways to support the country’s health
and education sectors through improved financial coordination. The meeting also
looked at an upcoming International Monetary Fund mission visit to the UAE in
April and financial and banking developments from the UAE Central Bank’s
vision.
“The Government Financial Policy
Coordination Council plays an important role in developing and unifying the
vision and financial policies, aligning them with the best international
practices in government financial work,” Al Khoori said. “The Council also
studies the draft budgets and expenditures, in order to support sustainable
economic development and achieve the highest levels of government efficiency in
managing expenditure to ensure prosperity for the UAE.”
