|23 January, 2020

UAE records $18bln surplus in first nine months of 2019

The surplus was 0.04% higher than in 2018

Image used for illustrative purpose. City skyline in Dubai.

Image used for illustrative purpose. City skyline in Dubai.

Gettyimages

The UAE has posted a 66.32 billion UAE dirhams ($18.06 billion) surplus for the first nine months of 2019, according to state news agency WAM.

The surplus was 0.04 percent higher than in 2018, when the country posted a 66 billion UAE dirhams surplus for the same period.

UAE government revenues stood at 359.2 billion UAE dirhams in the first nine months of 2019, compared to 347.15 billion UAE dirhams during the same period in 2018, a 3.5 percent increase.

The country’s expenses reached 292.88 billion UAE dirhams during the first nine months of 2019, compared to 281.1 billion UAE dirhams during the same period in 2018, a 4.2 percent increase.

Taxes amounted to 46.4 percent of revenues (166.78 billion UAE dirhams), WAM’s statement added.

(Writing by Gerard Aoun; editing by Seban Scaria)

(gerard.aoun@refinitiv.com)

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© ZAWYA 2020

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