UAE Government revenue rose 26% last year

Tuesday, 25 October 2022 19:55

By ARN News Staff

The UAE government's revenues totalled AED 463.9 billion in 2021, up 26 per cent from 2020.

Meanwhile, state expenditure saw a 1 per cent increase from AED 399.5 billion in 2020 to AED 402.4 billion in 2021.

The figures pointed to an overall surplus of AED 61.5 billion last year.

The state news agency WAM reported the figures on Tuesday, citing the finance ministry.

Social contributions rose by 5 per cent to AED 13.5 billion in 2021, while current expenses rose 8 per cent to AED 382.4 billion last year.

That includes workers' compensation, use of goods and services, consumption of fixed capital, interest paid, subsidies, grants, social benefits and other transfers.

The UAE's federal government said in June it aimed to boost this year's budget by AED 1.23 billion, which would increase the budget announced in October to just over AED 60 billion.

In addition to the federal budget, which is a fraction of consolidated state spending but often an indication of official plans for the economy, individual emirates such as capital Abu Dhabi and business hub Dubai also have their own budgets.

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