Home » During Q1 2022, UAE public spending amounted to AED87.4 billion

During Q1 2022, UAE public spending amounted to AED87.4 billion

by Editor

According to Ministry of Finance statistics, Abu Dhabi’s public spending in the first quarter of 2022 totaled AED87.4 billion, an increase of 19.6 percent and equivalent to AED14.34 billion over the same period last year. Moreover, the figures showed that the country’s public spending in the first quarter of 2022 included some AED28.7 billion for employee compensation payments, as compared to AED24.6 billion in 2021, an increase of 16.6 percent and equivalent to AED4.1 billion.

During Q1 2022, UAE public spending amounted to AED87.4 billionIn addition, public spending included AED30.9 billion in goods and services, AED14.1 billion in social benefits, AED6.4 billion in financial aid, AED1.7 billion in interest, AED1.6 billion in fixed capital expenditures, AED304 million in grants, and AED3.8 billion in other expenditures. According to the statistics, revenues in the first quarter of 2022 reached AED123.8 billion, an increase of 39.1 percent or equivalent to AED34.8 billion over AED88.9 billion in the same period of 2021.

Revenues for the first quarter included taxes on oil and gas companies, banks operating in the country, customs fees, and other fees worth AED56.7 billion, while social contributions were AED4.9 billion and other revenue was AED62.2 billion. According to the Ministry of Finance, government financial statistics are of national and international importance as they reveal the value of government operations in the country as well as how the government contributes to the national economy and allocates resources for various purposes.

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