Al Khouri addressed this key fiscal policy during the 9th meeting of the Under-Secretaries of Ministries of Finance in Arab Countries, a significant gathering organized by the Arab Monetary Fund. This pivotal summit served as a platform for extensive discussions on fiscal and monetary policies across Arab nations, addressing critical issues ranging from financial risks on public budgets to the looming spectre of climate change.
Participated by experts from the International Monetary Fund (IMF), the World Bank, and the Organization for Economic Cooperation and Development (OECD), the two-day meeting featured six discussion sessions and three dialogues. These sessions aimed to foster an exchange of experiences among Arab countries, covering diverse topics such as fiscal policy risks amid declining growth rates, high financing costs, and the pivotal role of fiscal policy in integrating the informal economy.
This affirmation from the UAE comes on the heels of a similar statement by Saudi Arabia, emphasizing no plans to introduce income tax, aligning both nations on a shared economic vision. As discussions continue to unfold on the global economic stage, the Middle East remains steadfast in clarifying its fiscal strategies amidst a dynamic economic landscape.
