Towards Financial Leadership for a Prosperous Future.
Let me welcome you to the Smart Fiscal Planning (SFP) Program, a strategic initiative launched by the Department of Finance (DOF) aiming to develop the Public Financial Management system for the Government of Dubai by transforming its budgeting system towards the Performance-Based Budgeting System (PBBS).
The SFP program intends to achieve this goal by developing and enhancing the fiscal planning and budgeting processes in accordance with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, and the close attention of His Highness Sheikh Ahmed bin Saeed Al Maktoum, chairman of Dubai's Supreme Fiscal Committee.
This innovative program, a result of the strategic partnership between DOF and Dubai’s Government Line Agencies, relies on this collaboration to achieve the fiscal sustainability for the Emirate of Dubai.
The SFP program follows a phased approach to the gradual transitioning to the Performance-Based Budgeting System (PBBS). A clear, well-thought roadmap was developed to guide the execution of each of the SFP program’s phases.
The SFP program denotes a quantum leap in the way Dubai’s public resources are managed through planning and performance-driven fiscal management rather than monitoring and controlling government expenditures.
It is noteworthy to emphasise DOF’s keenness, throughout this endeavour, on continuing the close communication and collaboration with the Government Line Agencies in this constructive partnership to ensure achieving the program’s desired objectives which are: automating and standardizing the budgeting processes, adopting a medium-term budgeting framework leading to a successful transitioning to PBBS, integrating strategic and operational planning and achieving fiscal discipline and sustainability for the Emirate of Dubai.
Finally, it gives me great pleasure to emphasise on DOF’s enthusiasm to work hard towards overcoming any hindrances that may face this endeavour and our partners through improved coordination and enhanced collaboration with the Government Line Agencies to achieve the desired state of this holistic fiscal development initiative.