Social benefits spend in the UAE tops $17.8bn in 2018

UAE social benefits total accounts for 16.8% of government spending for the year
Social benefits spend in the UAE tops $17.8bn in 2018
Official statistics from the Ministry of Finance reveal that Q1 spending on social benefits increased last year by $2.8bn (AED10.535bn), an annual rise of 7.7 percent compared to the same quarter in 2017.
By Staff writer
Tue 09 Jul 2019 10:56 AM

The UAE spent $17.8bn (AED65.74bn) on social benefits in 2018, accounting for 16.8 percent of government spending.

Official statistics from the Ministry of Finance reveal that Q1 spending on social benefits increased last year by $2.8bn (AED10.535bn), an annual rise of 7.7 percent compared to the same quarter in 2017.

In the second quarter, spending hit $6bn (AED22.168bn) as opposed to 2.7bn (AED10bn) during the same period the previous year – an increase of 121 percent, reports Emirates News Agency (WAM).

Spending on social benefits totalled $4bn (AED14.77bn) – an increase of 43.4 percent – in Q3, while during the last quarter of 2018, the UAE spent $4.9bn (AED18.273bn), a 67 percent rise.

The figures highlight the importance of social development for both the federal and local governments, in line with the UAE Vision 2021.

The UAE Vision 2021 aims to make the country among the world’s best by the golden jubilee of its establishment.

For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.