MoF holds government expenditure workshops for employees of the Dubai and Sharjah departments of finance

In line with its commitmentto adopt best international practices in the preparation of government financial statistics reports, and as part of its strategy to strengthen ties with various UAE government finance departments; the Ministry of Finance (MoF) recently held two government expenditure workshops in the Dubai and Sharjah departments of finance. The workshops were attended by HE Saeed Rashid Al Yateem, Assistant Undersecretary of Resources and Budget Sector at MoF, HE Arif Abdulrahman Ahli, Executive Director of Budget and Planning at the Department of Finance – Dubai and HE Waleed Ibrahim Al Sayegh, Director General of the Central Finance Department of Sharjah. 

The workshops were designed to give participants insight into the Federal Government’s experience in preparing reports in line with the classification of the functions of government (COFOG). The COFOG is a classification of government financial statistics issued by the International Monetary Fund (IMF) in 2014; which gives decision makers accurate data to study the effectiveness of government programmes in different functions, with the support of experts specialised in preparing economic studies and analysing certain areas such as health, education and environmental protection, amongst others. The COFOG also helps to classify government expenditures based on economic growth and continuity, and provides a clear framework for accountability and financial policy decision-making. 

Commenting on the workshops, HE Saeed Rashid Al Yateem, Assistant Undersecretary of Resources and Budget Sector at MoF said: “The Ministry is committed to adopting best international practices and methodologies in the preparation of government financial statistics reports. This will strengthen the UAE Federal Government’s ability to become one of the leading governments in the financial work field.  As such, the Ministry is working to further develop new report preparation methods which are in line with the classification of the functions of government, to ensure that all financial statistics reports are more accurate and meet the same standards as other government entities.” 

HE also stressed the Ministry’s aspirations to strengthen joint work relations with local government financial institutions and local finance departments in particular. With the support of the Government Financial Policy Coordination Council, this will be achieved through providing the necessary training to improve employees’ skills in collecting government financial data.