The Ministry of Finance examines the government’s draft statistics

Dubai: «Gulf»
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Recently, the Ministry of Finance organized a series of field visits to the finance departments of the UAE governments, in collaboration with the technical team of the Government’s Financial Policy Coordination Council, to discuss the developments and requirements of the state-level public finance statistics.
Younis Haji Al-Khoury, Undersecretary of the Ministry of Finance, said, “The Ministry is keen to continue working and coordinating with all finance departments of the UAE governments, to ensure the provision of accurate financial and statistical data and high quality at the state level, in accordance with best practices and international standards.”
Al-Khoury added, “The organization of such visits is part of the Finance Ministry’s efforts to inform specialists on workflow frameworks and trends related to government financial statistics data collection and publication, and to discuss common technical issues, with the aim of improving the quality of the country’s financial statements, supporting the development process and achieving sustainable financial stability and equilibrium.”.
The meetings discussed the challenges hindering the provision of quarterly and annual data for the year 2022 and the search for adequate solutions, with a review of the quarterly reports of government finance statistics for the year 2022 and the report of recommendations for improvement data quality 2021. State level draft budget data requirements and methodology for preparing a critical sources and uses statement according to GFSM2014 guidance were also discussed.
During the meetings, the requirements of the International Monetary Fund’s Climate and Environment Platform initiative were reviewed, as well as discussing the requirements for providing COFOG job classification data, updates to the Emirates Portal system for government financial statistical reporting and the decision to form the technical group of the Government’s Financial Policy Coordination Council for the year 2023.