June 25, 2024

The Ajman Department of Finance Organises Workshop on Preparing Financial Plan 2025-2027

The Ajman Department of Finance recently held an awareness workshop focussed on preparing the medium-term financial plan for 2025-2027 and drafting the general budget for the fiscal year 2025. The event saw the participation of representatives from various government agencies in the emirate.

This workshop is part of a series of initiatives devised by the department and aimed at developing government human capital in the financial sector. It provides local government cadres with ongoing training on innovative methodologies and best practices in creating effective financial plans. These initiatives are directed towards achieving sustainability of financial resources and their optimal distribution, thereby enabling the government to implement its development and strategic programmes efficiently and effectively.

The workshop laid emphasis on giving participants a better understanding of the instructions outlined in Financial Circular No. 1 of 2024 and highlighted the importance of adhering to these instructions. It also allowed participants to analyse the impacts and challenges hindering the implementation of these instructions, while improving their financial planning skills and promoting transparency and cooperation with stakeholders.

His Excellency Marwan Al Ali, Director General of the Department, emphasised the importance of medium-term financial planning in improving the efficiency of government spending, promoting sustainability, and supporting economic growth. He noted that this planning enhances the flexibility of financial operations through proactive measures in responding to variables, using well-studied mechanisms to identify, evaluate, and manage financial risks effectively. He explained that these efforts contribute to achieving the aspirations of the wise leadership in financial stability and improving the quality of life in society.

He highlighted that the workshop reflects the department’s commitment to its strategic role in supporting all its partners from government agencies in Ajman. Further, he underscored its belief in the necessity of concerted efforts and joint efforts to establish a financial system characterised by efficiency and effectiveness. This system aims to add value for all stakeholders, fostering excellence and innovation in government operations, and achieving Ajman Vision 2030.

The workshop was conducted by the Government Budgets Department and saw the attendance of numerous strategy office managers, project managers, and budget and human resources officials from various government agencies in Ajman. It covered several key topics, including the significant changes in the financial circular and the roadmap for the 2025-2027 plan project. The workshop also stressed the importance of integrating the financial planning process among all concerned parties.

Additionally, the workshop reviewed the foundations and rules for preparing the general budget for the upcoming year and included a practical session on the smart financial planning and analysis system. To ensure maximum benefit, the workshop concluded with a discussion and Q&A session for participants.

Last Updated on 2 weeks by Middle East News 247

    Middle East News 247

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