H.E. Obaid Humaid Al Tayer, Minister of State for Financial Affairs today opened a workshop on developing a medium term balance sheet for 2011-2013 and implementation of the zero-based budget.

The workshop was organised by the Finance Ministry, in collaboration with the Cabinet office.

Al Tayer said the three-year budget system is aimed at improving standards of service delivery by the government, implementing efficient financial policies, increasing sources of revenues and achieving customer’s satisfaction.

Experts from Boston Consulting Group made a presentation about the zero-based budget process in which they highlighted the scope and steps of the multi-phased approach that included a study on the existing systems, development of new processes for drafting budget, the successful implementation of the 2011-2013 budget processes and improving skills of the people involved in drafting the federal government’s budget.

"The implementation of the three-year budget plan ensures maximum positive impact on the society vis-a-vis public expenditure. It also allows for greater transparency in the drafting process and for better and rational use of financial resources," the ministry said.

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