The ninth Arab Fiscal Forum, co-organized by the Ministry of Finance, the Arab Monetary Fund, and the International Monetary Fund, has successfully concluded. This forum, through a series of productive discussions, aimed to address critical issues affecting the Arab and global economies. His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, noted that the Arab Fiscal Forum has become a strategic platform for strengthening financial and economic integration among Arab countries.
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02-11, 2025His Highness Sheikh Maktoum emphasized that building a modern financial system requires a comprehensive approach, focusing on improving spending efficiency, diversifying revenue sources, and leveraging advanced financial technologies such as digitalization and artificial intelligence. These measures are designed to enhance transparency, financial sustainability, and the resilience of Arab economies.
His Highness also highlighted the importance of formulating flexible financial policies that can respond to global economic transformations, support stability, and promote sustainable growth. Simultaneously, regional cooperation plays a fundamental role in developing innovative financial policies that can address future challenges and enhance the investment attractiveness of Arab economies.
Following the forum's conclusion, His Highness Sheikh Maktoum stated, "The themes and outcomes of the forum will contribute to shaping a future financial vision that supports development strategies. We must continue these dialogues during the World Government Summit (WGS) 2025, which provides an important platform to explore the latest global financial and economic trends and strengthen international cooperation to build more sustainable and resilient financial systems."
The ninth forum, co-organized by the Ministry of Finance, the Arab Monetary Fund, and the International Monetary Fund, concluded one day before the opening of the World Government Summit 2025 (held in Dubai from February 11-13). The forum was attended by His Excellency Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs of the UAE, Her Excellency Kristalina Georgieva, Managing Director of the International Monetary Fund, and His Excellency Dr. Fahd bin Mohammed Al-Turki, Director General and Chairman of the Board of the Arab Monetary Fund. In addition, finance ministers from various Arab countries, as well as experts, senior officials, and professionals from regional and international financial institutions, attended the event.
This year's forum, themed "Fiscal Resilience in Uncertain Times: Balancing Development Needs, Climate Action, and Debt Sustainability," explored a wide range of economic issues affecting the Arab and global economies. Key topics included macroeconomic developments, public finance policies for addressing debt pressures, enhancing resilience to climate change, and redesigning tax systems to adapt to major economic transformations.
In his opening address at the forum, His Excellency Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs of the UAE, emphasized the need to adopt financial strategies that promote sustainable growth and support the economic development of Arab countries. He pointed out that the current stage requires increased efforts to develop advanced financial and tax systems by improving spending efficiency and fully utilizing modern technologies, thereby keeping pace with global economic transformations.
Al Hussaini added that the UAE has adopted a comprehensive approach to enhance financial sustainability, not only by enacting financial legislation and launching bond and treasury bill programs, but also by expanding the investment base to achieve economic balance and support future development plans. He also noted that the private sector plays a key role in driving economic growth and emphasized the need to create a favorable investment environment that promotes innovation and opens up new opportunities for entrepreneurs and national companies.
Al Hussaini emphasized that the development of the financial systems of Arab countries should be aligned with a broader vision of leveraging digital transformation and artificial intelligence to enhance efficiency and transparency. He also highlighted the importance of regional and international cooperation in designing financial policies that are crucial for achieving sustainable economic stability and enabling countries to adapt to global economic changes.
His Excellency called on all stakeholders to make full use of the forum's discussions and dialogues, adding that exchanging experiences and insights will contribute to the formulation of more comprehensive and flexible financial policies. He also invited delegations to participate in the World Government Summit 2025, a strategic platform for envisioning the future of government work and strengthening cross-sector collaboration to achieve sustainable development.
Her Excellency Kristalina Georgieva, Managing Director of the International Monetary Fund, stated, "The IMF has a strong and productive partnership with the countries of the Arab world. Today, as the global and regional landscape undergoes significant shifts, this partnership is more important than ever. The countries of the Arab world can use fiscal policy to transform their economies for the future, support growth, and improve the lives of their people."
His Excellency Dr. Fahd bin Mohammed Al-Turki, Director General of the Arab Monetary Fund, stated, "The Arab Fiscal Forum provides a crucial platform for strengthening the resilience of fiscal policies in Arab countries. In line with the Arab Monetary Fund's new strategy, we look forward to being a knowledge partner, providing the necessary support to the region's economic and financial authorities. Our ultimate goal is to promote the adoption of policies that foster stability and promote inclusive and sustainable growth."
The forum featured a total of four panel discussions, each focusing on a key economic issue. The first session, chaired by His Excellency Dr. Muhammad Sulaiman Al-Jasser, President of the Islamic Development Bank, was themed "Macroeconomic Developments and Their Impact on Fiscal Conditions," and was attended by Dr. Jihad Azour, Director of the Middle East and Central Asia Department of the International Monetary Fund.
The session outlined current macroeconomic developments at the regional and international levels and discussed the shocks faced by many economies, including conflicts and climate disasters. These challenges have severely impacted economic growth prospects. The meeting emphasized that policymakers should prioritize promoting economic growth, enhancing economic resilience, and ensuring the sustainability of public finances, while maintaining low inflation rates.
The second session was chaired by His Excellency Sheikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy of the Kingdom of Bahrain, and was attended by guests including Vitor Gaspar, Director of the Fiscal Affairs Department of the International Monetary Fund, and Jeromin Zettelmeyer, Director of the Bruegel Institute.
This session, themed "Fiscal Policy Design Choices in the Face of Increasing Debt Pressures," discussed the challenges posed by high debt levels, large budget deficits, and rising interest payments. The session also reviewed effective strategies for addressing these pressures and ensuring fiscal stability.
The third session was themed "Fiscal Policy and Climate Resilience." The session was chaired by His Excellency Mohammed Abdullah Al-Jadaan, Minister of Finance of Saudi Arabia, and was attended by guests including Amar Bhattacharya of the Brookings Institution's Center for Sustainable Development, and Grace Fu Hai Yien, Minister for Sustainability and the Environment of Singapore.
This session discussed the significant economic losses caused by climate change in the region and highlighted the importance of strengthening fiscal policies to support climate adaptation and ensure economic resilience.
The fourth session was themed "Constructive Transformation: Transforming Tax Systems to Cope with Large Structural Economic Changes," and was chaired by His Excellency Mohammed bin Hadi Al Hussaini, with guests including Catherine Pattillo, Deputy Director of the Fiscal Affairs Department of the International Monetary Fund, and Ajay Seth, Secretary of the Department of Economic Affairs of the Ministry of Finance of India.
This discussion explored ways to modernize tax systems in the Arab region to adapt to major structural economic transformations. The session also emphasized the importance of ensuring the flexibility of tax systems and leveraging artificial intelligence to enhance the efficiency and effectiveness of tax administration.
The forum concluded with a ministerial roundtable attended by finance ministers from Arab countries. The meeting emphasized the importance of strengthening cooperation among Arab countries to address common challenges and develop financial policies that can promote the region's economic sustainability and resilience.
