This is an electronic financial system, which link the ministries, autonomous agencies and finance departments in the UAE governments to the MOF financial system. The system is responsible for compiling and preparation of financial data and statistics reports and preparation is conducted in accordance with international standards.
The UAE GFS system consists of strategic objectives including:
Building a consolidated financial database at the state level that is meant to provide accurate data for decision-makers to make plans and take effective decisions in a timely manner.
Setting financial and economic programs and monitoring its execution, studying and analysing the financial impacts in various sectors, and any sector that needs to conduct studies.
Developing the UAE competiveness standards and strategies enabling the country to achieve high ranking at Global Competitiveness Index and attain a high credit rating.
Enabling analysts to study the developments of government financial operations of the state.
The system provides secure means that saves time and effort and ensures the security and confidentiality of the financial data. It also unifies data presentation style enabling MoF to build a consolidated database for financial data at the state level to ensure financial information integration, compiling, reviewing, analysing and processing the data and automatically preparing the consolidated financial report while ensuring valid outcomes.
The system is developed in correspondence to the Cabinet's resolution regarding the constitution of the Financial Policy Coordination Council on a national level. It also provides a resolution regarding the integration of the autonomous federal agencies to the federal financial e-system.
The System Manual provides a detailed illustration on the required procedures consistent with the Government Finance Statistics Manual issued by Statistics Department at IMF. It covers standards, concepts, identifications, classifications and accounting rules. It also offers an analysis framework to summarise and present statistics properly for the purposes of analysing, planning, preparing, and viewing financial reports.
The UAE Gate for Government Finance Statistics Reports Manual