UAE’s financial management met with international recognition

Over the past 50 years, industrially advanced countries have come in first place as per economic and social indicators that are published in international organisations’ reports. Developing countries on the other hand came in last because of the large developmental disparities between the two groups.

However, it seems this image which has continued since the end of WWII until the end of the 20th century is on its way to change. This is due to the huge changes witnessed in the world economy over the past decades and the advances achieved by many developing countries such as the UAE and other GCC countries that have come to surpass the position of European, American, and Asian countries in some development indexes.

A prominent example of these changes and outstanding advances is the UAE’s international stand for its financial policy’s efficiency as published in the 2012 World Competitiveness Yearbook that was issued in June by the International Institute for Management Development in Switzerland.

http://gulfnews.com/business/opinion/uae-s-financial-management-met-with-international-recognition-1.1139108