His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has reviewed the UAE Government’s financial achievements and initiatives for the year 2023.
The outcome included 151 Cabinet decisions related to the financial sector, covering the launch of new policies and initiatives, legislations and laws, as well as the approval of international agreements.
H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE, said, “The UAE was ranked first globally in 4 international indexes of competitiveness related to financial sector, and third in the General Government Gros Debt indicator, within the annual World Competitiveness Booklet 2023.
This affirms the success of the implemented national financial policies and reflects the significant potential of sustainable improvement and progress. It, additionally, reflects the promising opportunities offered to the finance, economy, and investment organisations seeking benefit from the advanced financial ecosystem in the UAE which is boosted by a flexible legislative system and an advanced digital infrastructure”.
The government's financial policies and efforts introduced in the sector have contributed to the UAE winning the top rank globally in 4 international competitiveness indicators.
The UAE was ranked first globally in the indicator of “Efficiency of government spending” in the Prosperity Index report in 2023. It was ranked first in the index of “the government budget balance with the GDP” in the report of the same indicator for the same year, and ranked first in the index of “the adaptability of the government policy”, in the World Competitiveness Booklet 2023, and ranked first in the index of “financial openness” in the Travel and Tourism Development Report 2023, published annually by the World Economic Forum.
The UAE was ranked third globally in the index of “general government total gross debt”, in the World Competitiveness Booklet 2023. The government's financial policies and efforts introduced in the sector have contributed to the UAE winning the top rank globally in 4 international competitiveness indicators.
The UAE was ranked first globally in the indicator of “Efficiency of government spending” in the Prosperity Index report in 2023. It was ranked first in the index of “the government budget balance with the GDP” in the report of the same indicator for the same year, and ranked first in the index of “the adaptability of the government policy”, in the World Competitiveness Booklet 2023, and ranked first in the index of “financial openness” in the Travel and Tourism Development Report 2023, published annually by the World Economic Forum. The UAE was ranked third globally in the index of “general government total gross debt”, in the World Competitiveness Booklet 2023.
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