Workshop discusses role of fiscal policy in economic growth of Arab countries

ABU DHABI, — A workshop on fiscal policy frameworks opened today in Abu Dhabi, with 30 financial experts from Arab Monetary Fund’s member countries participating.

The workshop, organised by the AMF until 11th May, focuses on fiscal policy as a significant instrument that plays a major economic role in general and in the growth of Arab economies in particular, said Dr. Abdulrahman A. Al Hamidy, Director General and Chairman of AMF Board of Directors.

He attributed the paramount importance of fiscal policy to the critical role played by public sector in Arab economies and the considerable contribution of non-tax revenues, specially oil revenues, to state coffers.

In order to mitigate the macroeconomic impact of the declining oil prices, there is an urgent need to adopt a prudent policy to reduce reliance on oil revenues and generate different income streams, by adopting an economic diversification programme that ensures development of taxation systems and improvement of other production sectors, he added.

Source: Emirates News Agency