Ministry of Finance publishes preliminary results of UAE Government Finance Statistics for Q1 2023

Ministry of Finance publishes preliminary results of UAE Government Finance Statistics for Q1 2023

ABU DHABI, 25th July, 2023 (WAM) -- The preliminary results of the UAE Government Finance Statistics Report for the first quarter of 2023, published by the Ministry of Finance today, revealed that the government’s revenues amounted to AED115.6 billion, and its expenditures totaled AED92.5 billion.

Total revenues included AED63.5 billion of tax revenues, AED3.9 billion of revenues from social contributions, and AED48.2 billion of other revenues from property income, sales of goods and services, fines and penalties, and transfers not elsewhere classified.

According to the Ministry of Finance’s data, the value of total expenditures amounted AED92.5 billion consisting of net investment in nonfinancial assets and current expenses, including employees’ wages, use of goods and services, consumption of fixed capital, paid interest, subsidies, grants, social benefits, and other transfers.

The results of financial transactions during the first quarter of 2023 shows the value of net lending/net borrowing amounted to AED23.2 billion. The net lending/net borrowing value is a summary measure of a governments’ ability to lend or their need to borrow, and an indicator of the financial impact of government activity on other sectors of the economy.

Younis Haji Al Khouri, Undersecretary of Ministry of Finance, said: “These results reflect the efficiency of government expenditure