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|21 October, 2018

UAE government revenues exceed $10bln in first half of 2018

Revenue grew 4.2% in the first six months of the year, as compared with H1-17

Image used for illustrative purpose. Dubai skyline.

Image used for illustrative purpose. Dubai skyline.

Getty Images

Dubai: UAE Federal ministries posted an AED 39 billion ($10.6 billion) in revenues for the first half of 2018, ahead of budget.

H1-18 revenues make up 75.9% of total actual budget of AED 51.388 billion, the Ministry of Finance (MoF) revealed in a financial performance report.

Expenditure reached AED 33.2 billion in the six-month period ended June, with the ministries registering 64.6% of implementation, achieving a budget surplus of AED 5.8 billion, Emirates News Agency (WAM) reported.

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Revenue grew 4.2% in the first six months of the year, as compared with H1-17, while expenditures rose 8.2% during the corresponding period, the state news agency added.

The MoF's revenues amounted to AED 27.67 billion in H1-18, representing 71% of the total federal ministries' revenues.

The Ministry of Human Resources and Emiratisation's revenues totalled AED5.5 billion, while revenues of the Ministry of Health and Prevention totalled AED 477 million, with the remaining revenues divided among other ministries, according to the report.

Expenditures on public services, including bonuses, social benefits and other expenses, hit AED 8.74 billion in H1-18, accounting for 28.6% of the total federal ministries' expenditure.

Moreover, expenditure in the education sector amounted to AED 4.1 billion, whereas it reached AED 2.4 billion in the health sector and AED2.3 billion in the Ministry of Community Development, WAM said.

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