Tuesday 28 November 2023

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UAE government revenues jump 26pc to $126.3bn in 2021

ABU DHABI, October 25, 2022

UAE government revenues at the federal level jumped 26%, from AED367.9 billion in 2020 to AED463.9 billion ($126.3 billion) in 2021. Social contributions also rose by 5% from AED12.9 billion in 2020 to AED13.5 billion in 2021. 
Meanwhile expenditures saw a 1% increase from AED399.5 billion in 2020 to AED402.4 billion in 2021. On the other hand, capital expenditures decreased by 57% from AED46.5 billion in 2020 to AED20.0 billion in 2021, according to the Ministry of Finance (MoF), which released the preliminary government finance statistics data for year 2021, in accordance with the criteria of the Government Finance Statistics Manual issued by the International Monetary Fund (IMF). This comes in line with the Open Data Policy set by the UAE.
The value of other revenues (including interests received, dividends, rents, sales of goods and services, fines, penalties, and other transfers) increased by 24% from AED203.8 billion in 2020 to AED251.8 billion in 2021. 
Current expenses
Current expenses increased by 8% from AED353.0 billion in 2020 to AED382.4 billion in 2021. This includes workers' compensation, use of goods and services, consumption of fixed capital, interest paid, subsidies, grants, social benefits, and other transfers.
In terms of net lending/borrowing, the results showed a significant increase at the federal level; while the results for 2020 showed a deficit of AED31.7 billion, it achieved a surplus of AED61.5 billion in 2021. Net lending/borrowing measures governments' ability to lend or their need to borrow, and is considered an indicator of the financial impact of government activity on the economy.-- TradeArabia News Service


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