The Executive Director of the International Monetary Fund, Kristina Georgieva, said that the UAE is an example to follow in how to address challenges and turn crises into opportunities, explaining that 2022 was a difficult year and constituted a global turning point with high levels of inflation and a decline in the rate of growth.
Georgieva's words came during the seventh session of the Arab State Public Finance Forum, which is organized by the UAE Ministry of Finance in partnership with the Arab Monetary Fund, today, Sunday.
A dialogue session entitled Macroeconomic Developments and Prospects was held during the activities of the Public Finance Forum of the Arab Countries, during which the participating experts discussed economic developments worldwide and ways to address the current pressing challenges.
Georgieva said that public debt in many economies of the Middle East and North Africa is a source of concern, noting that MENA countries can achieve resilience through a solid fiscal framework, address climate challenges and increase tax revenues.
At the opening of the forum, the Minister of State for Financial Affairs in the UAE, Mohammed bin Hadi Al-Husseini, said: The Public Finance Forum for the Arab Countries is a platform for exchanging experiences and presenting ideas on the necessary steps to promote sustainable economic growth, develop investment opportunities and create job opportunities.
Al-Husseini indicated that organizing the forum comes under critical circumstances this year, as global economic challenges escalate and inflation levels remain high.
