Dubai state departments and entities are pushing the envelope on governance, raising the bar across the board and providing excellence – and speed – in the delivery of services. Their unrelenting dedication to sound governance ensures, amongst others, top fiscal efficiency. The Department of Finance (DoF) of the government of Dubai offers a prime example of how to responsibly manage public resources. The department has put in place a comprehensive policy framework – Smart Fiscal Planning (SFP) – that allows for performance-based budgeting and automates the government’s planning and fund allocation processes.
The innovative approach implemented by DoF significantly improves operational efficiencies across the entire state apparatus by assuring baseline funding requirements. SPF takes into account the interests of all stakeholders and produces a wealth of hard data that, in turn, support decision making. Introduced at the start of 2014, the phased rollout of the SPF programme is now well underway with full implementation expected in early 2020.
SPF represents a holistic approach to public finances unlike any other in the world. The programme seeks to eliminate spending bottlenecks whilst improving transparency, accountability, and – crucially – financial and strategic planning. Thus, SPF fine tunes and perfects the budgeting process, ensuring fiscal sustainability.
The CFI.co judging panel is, quite simply, impressed. The judges expressed a collective wish for others to adopt a similar smart programme in order to improve fiscal rectitude. The panel commends the government of Dubai on its foresight and declares the Department of Finance winner of the 2017 Smart Fiscal Planning – Most Innovative Strategic Governance Programme EMEA Award.
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