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.
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:
- 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.
- 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.
- 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.
- 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.
- Attracting and enabling talents, while providing effective and efficient institutional services and digital structure. This enabler has three strategic projects:
- developing financial leaders and future skills
- designing a framework for attracting and retaining talents
- 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.
- 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:
- managing institutional innovation
- conducting future foresight.
Read more about Ministry of Finance Strategic Plan 2023-2026.
