Ministry of Finance Strategic Plan 2023-2026 forms a roadmap to accelerate government performance through financial empowerment, sustainability, innovation, and future foresight, financial leadership and sustainable development.

We launched The Ministry of Finance strategy 2023 - 2026 in line with the UAE’s vision and with its leadership’s aspirations. In accordance with this national strategy, the Ministry will adopt international best practices and solidify its pioneership and excellence. It will work… pic.twitter.com/tqvX5skFrI

— Maktoum Bin Mohammed (@MaktoumMohammed) August 6, 2023

Strategic goals

The plan encompasses three strategic goals. They are to:

1. Enable financial performance excellence in the federal government through:

 1. designing a public finance roadmap and strengthening analytical capabilities

      2. ensuring effective financial management.

2.  Ensure fiscal sustainability for an inclusive future, through:

  1. the management of public debt

  2. designing balanced tax policies that are aligned with local and international developments.

3. Strengthen national financial resilience, through:

1. the development of a framework for emergency response and financial recovery

2. establishing a programme for collaboration with international ministries of finance in the field of public finance.

Main objectives

The Strategic Plan 2023-2026 outlines four main objectives and their related periodic tasks as follows:

1. To establish a sustainable fiscal policy by carrying out the following tasks:
   • developing the federal government’s financial planning
   • strengthening the sustainability of public finances and risk management
   • preparing and reviewing financial laws and policies.

    

2. To foster a strong economic growth and a competitive business environment by:
   • managing and supervising the government’s financial committees and interests in companies, institutions and organisations
   • enhancing the competitiveness of the business environment.

    

3. To promote international economic and financial corporation by:
   • promoting international financial interests
   • utilising the opportunities and advantages of joint Gulf financial and economic integration
   • developing and strengthening international tax relations.

    

4. To enhance trust and transparency through:

• improving and developing mechanisms for budget planning and implementation
• managing and governing financial data
• preparing and managing the federal government’s financial operations
• managing the government procurement platform.

Enablers of the plan

The Strategic Plan 2023-2026 outlines two key government enablers.

1. Attracting and enabling talents, while providing effective and efficient institutional services and digital structure. This enabler has three strategic projects:
   1. developing financial leaders and future skills
   2. designing a framework for attracting and retaining talents
   3. developing the ministry’s artificial intelligence framework.

    

   To achieve the objectives of the first government enabler, along with its strategic projects, several periodic tasks have been identified:

   • managing financial resources and procurement efficiently in line with international best practices
   • implementing best human resources practices and international best practices in leadership
   • establishing quality standards and institutional excellence
   • ensuring effective internal and external communication
   • setting and developing the strategic plan
   • measuring performance
   • providing the best legal services, advanced IT services and common services for all organisational units with high efficiency.

    

2. Promoting innovation practices based on agility, pre-emption and readiness at the workplace. This enabler includes one strategic project focused on the consolidation of best practices in innovation and change management. It also includes two periodic tasks:

1. managing institutional innovation
2. conducting future foresight.

Read more about Ministry of Finance Strategic Plan 2023-2026.