UAE Ministry of Finance Unveils 2023 Yearbook Highlighting Leadership in Sustainable Finance

UAE, 10 August, 2024 : The UAE Ministry of Finance (MoF) has published its 2023 yearbook, titled *"Leadership in Development and Global Partnerships for Sustainable Finance,"* highlighting significant milestones, financial achievements, and strategic initiatives accomplished throughout the year.

His Excellency Mohamed Bin Hadi Al Hussaini, Minister of State for Financial Affairs, emphasized the UAE's commitment to sustainable growth, noting the ministry's role in reinforcing the country’s global leadership in sustainable development. The yearbook underscores the Ministry’s achievements, including the approval of a AED 192 billion Federal Budget for 2024-2026, the issuance of new sovereign bonds, and advancements in the Islamic Treasury sukuk program.

Key legislative accomplishments were also detailed, such as new laws governing public-private partnerships and federal government procurement. The yearbook highlights the ministry’s efforts to diversify revenue, reporting AED 159 billion in VAT revenue collected since its implementation in 2018.

The MoF’s commitment to digital transformation was showcased with the launch of the third phase of the digital procurement platform and the integration of "UAE Pass" into all ministry services.

The yearbook also highlights the UAE's strong performance in global competitiveness indicators, including first place rankings in several key areas like government expenditure efficiency and GDP balance.

Internationally, the Ministry’s participation in key events like the G20 meetings and COP28, along with its leadership roles in global organizations, were emphasized as pivotal in strengthening the UAE’s financial influence on the global stage.

Source : www.mof.gov.ae