UAE Hosts Senior Budget Officials from OECD for Middle East and North Africa.

Abu Dhabi: Senior budget officials from the Organisation for Economic Cooperation and Development (OECD) for the Middle East and North Africa today discussed the latest developments in public budgeting and spending in a meeting hosted by the UAE's Ministry of Finance in Abu Dhabi. The meeting explored ways to enhance cooperation and share knowledge and experiences among regional decision-makers on public financial management.According to Emirates News Agency, the meeting was attended by Younis Haji AlKhoori, Under-Secretary of the Ministry of Finance; Saeed Rashid Al Yateem, Assistant Under-Secretary for Government Budget and Revenue Sector at the Ministry of Finance; Ali Abdullah Sharafi, Acting Assistant Under-Secretary for International Financial Relations Sector; and Fatima Yousef Al Naqbi, Acting Assistant Under-Secretary for Support Services Sector, along with senior budget officials and managers from various Middle Eastern and North African countries, and representatives from local UAE financial depa rtments.In his opening remarks, AlKhoori emphasised that the selection of the UAE to host such international meetings reflects the leading role the country has achieved in financial and economic management. He highlighted the commitment of the UAE's wise leadership to positioning the nation as a global hub for hosting influential regional and international events. AlKhoori noted that this meeting, hosted by the UAE for the second consecutive year, comes at a time of increasing global economic shifts, underscoring the need for cooperation and innovation to improve the management of financial resources and advance sustainable development goals.AlKhoori underlined the importance of the meeting, discussing a wide range of topics, including the use of innovative financing mechanisms and digital and green transformations, and the application of artificial intelligence in budgeting and public spending. He explained that these technologies are key to improving the efficiency of resource management, aligning spend ing with strategic priorities, and enhancing performance monitoring, which is essential for developing public financial management, ensuring spending efficiency, and enabling more informed decision-making.The two-day meeting included sessions that offered opportunities for exchanging experiences and discussing key developments in public financial management in the region. Discussions covered various topics, such as budget preparation, improving public spending efficiency, and adapting to economic challenges and opportunities at both regional and global levels. Participants explored innovative financing mechanisms and strategies to attract private investment, especially through public-private partnerships, to finance essential projects.They also highlighted the benefits, opportunities, and challenges of these mechanisms, their integration into budget and public financial management systems, and the financial risks associated with these transformations. The meeting featured a session on enhancing financial literacy and public understanding of fiscal issues to support sustainable financial policies. Another session focused on the use of generative AI in budgeting and public spending.A session dedicated to performance budgeting explored ways to improve public spending efficiency by clearly outlining spending outcomes and providing decision-makers with the necessary data for informed budget decisions. Participants discussed the practical challenges of implementing performance budgeting and reviewed the best practices adopted by the OECD to strengthen spending effectiveness and achieve strategic goals.Last year, the UAE hosted the annual meeting of senior budget officials from the OECD for the Middle East and North Africa in Dubai from 19th to 20th September.