UAE ranked in top ten for efficiency

Dubai: The UAE is ranked seventh in the world in terms of efficiency of government spending in the 2010-2011 Global Competitiveness Report of the World Economic Forum (WEF). Of the 139 countries covered by the report, UAE has been ranked in top 10 in efficiency of government spending for the second consecutive time.

The report commended the UAE's ability to enhance the efficiency of its government spending and transparency, two essential elements that determine competitiveness of countries. A series of initiatives and improvements aimed at securing optimum use of resources in vital and sustainable sectors exemplified the UAE leadership's vision and strategy to secure the country's prosperity.

According to the report, the 2011-2013 zero-based budget initiative of the UAE government was most prominent in increasing efficiency of government spending. It enhances efficiency of government spending and preserves public money by determining activity and programme costs, outcomes and objectives. Zero-based budgets assign departments to develop new budgets every three years.

Shaikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, credited the achievement to the leadership of President His Highness Shaikh Khalifa bin Zayed Al Nahyan and His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai. He stressed the importance of implementing the leadership's vision and its commitment to supporting development and economic stability.

Obaid Humaid Al Tayer, Minister of State for Financial Affairs, said: "That international organisations have recognised our competitiveness and achievements on a global level is a clear sign of appreciation for the UAE's efforts in increasing government efficiencies."