ABU DHABI: UAE reported a surplus of AED49.42 billion in consolidated government finances during H1 2019, a growth of 35.4 percent on the comparable period in 2018, figures revealed by the Ministry of Finance indicate.

The growth is driven by a significant rise in revenues from January through June to AED249.87 billion, with expenses standing at AED200.45 billion.

The largest share of revenues came from 'other sources' , amounting to AED132.63 billion since the beginning of the year until the end of June against AED127.75 billion on the comparable period of 2018.

Other sources of revenues include property income (interest, dividends, rent), sales of goods and services, including administrative fees, fines and penalties and other revenues not elsewhere classified.

Revenues from taxes reached AED114.7 billion during H1 this year against around AED96.2 billion in H1 2018, with social contributions hitting around AED1.3 billion.

 

© Copyright Emirates News Agency (WAM) 2019.