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Tuesday, 14 February 2017

VAT presents UAE with a chance to innovate | The National

VAT presents UAE with a chance to innovate | The National:

"Dubai has hosted two important conferences this week: the World Government Summit and the Second Arab Fiscal Forum. The summit has a broad agenda, shaping the future of government around the world. The theme of this year’s Arab Fiscal Forum, organised by the Arab Monetary Fund and the IMF, was focused on Revenue Diversification in the Arab World: Challenges and Opportunities.

Christine Lagarde, the managing director of the IMF, addressed both events. A common thread between the summit and the forum has been the strides being taken by the UAE and other governments in the region to put in place governance structures that lead the way in an "e-oriented" and digitised world.

Delivering the opening keynote speech at the forum, Ms Lagarde gave an overview of the global economic situation. She revealed that "after many years of feeble growth, the IMF is expecting global economic activity to pick up this year and next, and across both the advanced and emerging economies". She then went on to sound a clear note of caution about global uncertainties, in the face of which her key message was that "countries need to build resilience" through robust public finances with reliable revenue streams."

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