Sharjah Financial Award on flexible budgets
The activities of the Fourth Arab Forum for the Sharjah Public Finance Award in Tunisia discussed the importance of designing flexible government budgets capable of adapting to economic changes, with the aim of promoting sustainability and achieving high value for money. The discussions also addressed the transition from traditional budgeting to smart budgeting by linking expenditures to results and reducing waste, with a focus on utilizing smart reserves and activating scenario planning to manage economic shocks. Participants emphasized that effective financial management requires the ability to adapt to fluctuations, ensure resource sustainability, improve revenue management, and transform public procurement and supply chains into financial tools to combat waste. The goal is to enhance trust in public financial management at both the medium and long-term levels.
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