28/09/2017 05:22 AST

The Ministry of Finance announced that the UAE was ranked first in the ‘Efficiency of Government Spending’ index, a sub-criteria of the World Competitiveness Report 2017- issued by the World Economic Forum (Davos) in Switzerland, having ranked second for three previous years.

Since 2010, th e UAE has achieved high rankings among the top 10 countries in the “Efficiency of Government Spending” index, where the country rose from the 7th position globally, to 3rd in 2013, and then maintained the status of 2nd worldwide in 2014, 2015 and 2016 to now first in 2017.

Sheikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, presented this achievement to His Highness Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE, and His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, stressing that this success is a reflection of the wise leadership’s vision and guidance in raising the efficiency of spending and directing it to serve the vital sectors in the country, which would meet the requirements of sustainable development process and achieve prosperity and affluence for the nation and its residents.

“The UAE’s first place in the ‘Government Spending Efficiency’ Index confirms the value and confidence of the UAE Government’s global efforts and recognises the outstanding management capabilities and effective monetary and financial policies of the UAE,” said Sheikh Hamdan.

He praised the efforts exerted by all the working teams in the Ministry of Finance as well as the fruitful cooperation between the various government bodies, which played a pivotal role in ranking and achieving first place. “The Ministry of Finance continues its efforts to adopt and implement the best practices with regards to effective financial management, which are based on a set of values and benchmarks aimed at protecting and developing the financial system.


The Gulf Today

Ticker Price Volume
QNBK 127.79 128,466
BURUJ 34.17 145,491
SAIB 15.84 181,995
PETRORABIGH 23.18 2,593,959
TAWUNIYA 73.05 606,413
SABIC 104.86 2,962,784
SCERCO 24.98 64,955
AUS hosts innovation entrepreneurship forum

21/02/2018

Innovation and entrepreneurship took cente rstage at a special event held at American University of Sharjah (AUS) on Tuesday. The university played host to the Third Annual Symposium on Innovation an

Saudi Gazette

Saudia Cargo and NTCFHM to train and hire 280 Saudis

21/02/2018

SAUDIA Cargo signed an agreement to train and hire 280 Saudis in collaboration with the National Training Center for Facilities and Hospitality Management (NTCFHM) run by the Saudi Arabian Oil Compan

Saudi Gazette

UAE’s largest banks to see 'solid' profits this year despite rising costs

21/02/2018

The UAE’s four largest banks are expected to continue to report solid profits for the next 12 to 18 months, despite rising operational and provisioning costs, according to Moody’s.

“Over t

The National

Moroccan exporters review ties with Qatari businessmen

21/02/2018

Qatar-Morocco relations have witnessed “substantial progress” in the past years, particularly after mutual high-level visits by both the countries’ leaderships, according to a senior Qatar Chamber of

Gulf Times

Oman's central bank raises OMR71m from treasury bills

21/02/2018

Oman’s central bank has raised OMR71 million by way of issuing government treasury bills.

The total value of the allotted treasury bills amounted to OMR71 million, for a maturity period of

Times of Oman