Page 26 - DOF Annual Report 2018

26 Annual Report 2018 - Department of Finance 2017 Achievements
Several achievements were accomplished within this outputs group during 2017. Following are the highlights of those achievements:
Completed the development of the Medium-Term Fiscal Framework (MTFF), which is a five year fiscal plan for the Government of Abu Dhabi. This includes an assessment of the world economy, and its implications for future developments of the global oil market. This is then used to drive Government revenue projections, and Government spending ceilings. The Framework is also used as a macroeconomic model to show the implications of those spending ceilings on key economic variables such as non-oil GDP, inflation, unemployment, and so on. Finally, the impacts of a number of risks are assessed, and the best fiscal responses are determined.
Updated the General Budget systems, and issued guidelines and templates for the preparation of the General Budget for 2018; including the financial performance information models, which enable entities to prepare and link their budgets with their performance. This helps decision-makers to allocate Government resources effectively, contributing to priorities spending and increasing the efficiency and effectiveness of public spending.
Analysed and reviewed the proposed budgets from Government Entities for the year 2018 across different sectors; the Government investments budget and the federal contributions budget.
Analysed and developed the revenue targets and public expenditure ceilings for approvals.
Conducted 50 workshops for Government Entities on the fundamentals of performance based budgeting.
Assessed Government employee positions in order to prepare a comprehensive system for “Government Employee Budget” for the Government Entities.
Developed and issued the 2017 General Budget implementation instructions to the concerned entities including their approved financial appropriations, in addition to following up and monitoring its implementation.
Reviewed and analysed 2000 budget requests submitted by Government Entities.
Developed periodic reports including “Global Economic Developments”, “Oil Market Update”, “Abu Dhabi Fiscal Policy Report”, and “Abu Dhabi Long-term Fiscal Framework”.
Developed Abu Dhabi’s macroeconomic models, spending baseline reports and a set of specialised reports.