Senior officials on budgeting from the Organization of Economic Cooperation and Development for the Middle East and North Africa discussed at their meeting held in Abu Dhabi, presented by the Minister of Finance of Abu Dhabi, recent changes in public budgeting trends and public expenditure. The meeting was attended by budget directors from various countries in the Middle East and North Africa region, as well as representatives of local finance authorities of Abu Dhabi.
In his speech at the opening of the meeting, Younis Haji Al-Khouri, Deputy Minister of Finance, emphasized that the UAE's selection to host such international meetings reflects the country's status in the area of financial and economic management. He pointed out that our world is undergoing economic changes that require collaboration and innovations for effective management of financial resources and achieving sustainable development.
He also underlined the importance of utilizing the latest technologies and increasing transparency and accountability in the economic sphere. The UAE considers international cooperation important for addressing global economic challenges. It was noted that the UAE's participation is not limited to hosting meetings but includes active involvement in the development of international economic policies.
During the two-day meeting, issues regarding the use of innovative financial mechanisms, the number of investments in the private sector, and the influence of digital technologies on budget planning were discussed. Key financial risks that require management to ensure success in economic transformations were also considered.
Sessions were held on improving financial literacy and public understanding of financial issues for supporting sustainable financial policies. Special attention was focused on the use of artificial intelligence in budget planning and discussing budget activities to enhance the efficiency of public expenditures.
The meeting also included a session on budget accounting to improve the effectiveness of public expenditures and discussed best practices in this area. Sector representatives for budgets and finance highlighted the importance of such a session for improving understanding of actions in the budgeting sector and fostering more informed decisions.
It is worth noting that in the past year, annual meetings of senior officials on budgeting from the Organization of Economic Cooperation and Development for the Middle East and North Africa were also organized.
