DUBAI, 9th March, 2023 (WAM) — The Ministry of Finance (MoF) recently visited the Dubai Statistics Centre with the aim of exchanging expertise and getting acquainted with best practices in the field of financial data. Both parties discussed means of bolstering cooperation and developing a mechanism for preparing, analysing and disseminating economic and financial statistics.
Saeed Rashid Al Yateem, Assistant Undersecretary for Government Budget and Revenue Sector at Ministry of Finance, noted that the ministry continues to work with various relevant entities to enhance the government finance statistics system, as part of its efforts to raise levels of financial management, support the development process, and contribute to achieving financial balance and stability in the UAE.
“The Ministry of Finance is keen to enhance the capabilities and mechanisms used to analyse and provide accurate and high-quality data. Our aim is to support decision-makers, researchers and those interested in the financial sector in the country in drawing policies and making sound economic decisions that contribute to strengthening the UAE’s position globally,” Al Yateem said.
The meeting sought to discuss the strategic and statistical plan of Dubai Statistics Centre for 2023. The plan aims to ensure the issuance of statistics that support efficient spending and sustainable development. As part of the plan, the centre will develop the interactive statistics system that is designed to help statistical researchers and data analysts at Dubai government entities.
The meeting also previewed the mechanisms of collecting and coordinating statistical data with government entities in the country, including surveys, administrative records and big data. The centre explained its methodology for collecting data, which falls in line with the Generic Statistical Business Process Model (GSBPM).
The centre also gave an overview of the Statistical Dashboards that provide accurate information to support decision-makers in local government entities in Dubai. This system delivers the latest economic, demographic and social indicators in the Emirate of Dubai through advanced interactive live dashboards directly linked to the centre’s centralised statistical repository.
These smart boards enable data users to improve the process of preparing studies and research and making accurate decisions. The Dubai Statistics Centre team also previewed the centre’s experience in establishing a department to develop and analyse data science. The team also emphasised the significance of integrating smart data tools and big data to enhance data analysis systems, including the GeoHub interactive statistics system, which integrates electronic data and uses modern data mining technology.