|22 January, 2020

UAE government revenues exceed $15bln in 2018

Expenses levelled up by 5.6%

Image used for illustrative purpose. Close-up of dirham coins on UAE notes.

Image used for illustrative purpose. Close-up of dirham coins on UAE notes.

UAE – Mubasher: The UAE’s Ministry of Finance announced that the value of revenues increased by 7.2% year-on-year to AED 56.1 billion ($15.27bln) in 2018, according to the results of the consolidated annual report for 2018.

This announcement came during the ministry’s participation in a session held by the Federal National Council on Tuesday, 21 January.

Meanwhile, expenses levelled up by 5.6% to AED 54.0 billion in 2018, resulting in a budget surplus of AED 2.1 billion, rising by 78.9% year-on-year.

The report further remarked that 33.7% of revenues were generated from local contributions, while the remaining 66.3% were from other sources.

Expenses were divided between 41.2% in employee compensation, 29.3% in commodity and service requirements, and 29.3% in other expenses.

The value of the current assets registered AED 44.2 billion, including 34.2% in bank balances and 65.8% in other receivables, while the current liabilities reached AED 27.6 billion with 1.3% of bank accounts payable and 65.8% of other credit balances.

Source: Mubasher

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