UAE works with IMF to align finance data with 2014 global standards

Dubai: The UAE Ministry of Finance has held a specialised workshop with a technical mission from the International Monetary Fund to improve the way government finance and public sector debt data are compiled, reported and shared.

The Dubai workshop focused on Government Finance Statistics and Public Sector Debt Statistics, two areas that are central to fiscal transparency, public debt reporting and economic policymaking. The Ministry said the initiative is part of its wider effort to strengthen the UAE’s financial statistics system and align government data practices with international standards.

The discussions covered the Government Finance Statistics Manual 2014, public sector debt reporting, data dissemination standards and the need for stronger integration between fiscal data and other macroeconomic indicators.

Better data for policy decisions

The Ministry said the workshop was designed to reinforce institutional and technical capabilities in compiling and disseminating government financial data. The aim is to improve data quality, strengthen consistency across government finance and public debt statistics, and support more accurate financial planning.

Saeed Rashid Al Yateem, Assistant Undersecretary for Government Budget and Revenue Sector at the Ministry of Finance, said the workshop reflects the Ministry’s commitment to improving the government financial data ecosystem and producing accurate and reliable data for planning and decision-making.

He said investment in these areas is important for fiscal sustainability and for strengthening the country’s readiness to deal with changing economic conditions.

Focus on debt and fiscal transparency

The workshop examined the Government Finance Statistics Manual 2014, including its objectives, analytical tables, institutional coverage and government financial reporting concepts.

Participants also reviewed Public Sector Debt Statistics, including debt instruments, sector classification, valuation principles and the public sector debt reporting framework.

The sessions also covered data dissemination standards and fiscal transparency requirements, including the Enhanced General Data Dissemination System, the Special Data Dissemination Standard, metadata requirements, reporting frequency and broader transparency principles.

Linking key economic data

A major part of the workshop focused on improving coherence between different types of macroeconomic data. These include Government Finance Statistics, Public Sector Debt Statistics, national accounts, balance of payments statistics, monetary and financial statistics and other economic datasets.

The Ministry said stronger consistency between these datasets would support the development of a more integrated financial and economic data ecosystem.

The workshop also included practical sessions on the key findings and recommendations of the IMF technical mission, with discussions on data challenges, gaps, reconciliation issues and proposed technical measures.

Roadmap for future reporting

The Ministry said the workshop supports a clear roadmap for improving the compilation of government finance and public sector debt statistics. The work will include improving data coverage and quality, strengthening institutional coordination and building more efficient processes for compiling and using financial data.

The initiative also supports evidence-based policymaking by helping ensure government financial data are accurate, comprehensive and better aligned with international reporting requirements.

Al Yateem said the Ministry’s collaboration with the IMF reflects its commitment to using international technical expertise and strengthening coordination among relevant entities.

These efforts, he said, will help improve data quality and ensure greater consistency between financial statistics and other macroeconomic datasets.