UAE’s public spending in the first quarter of 2022 totalled AED87.4 billion, an increase of 19.6 percent, compared to AED73.7 billion in the same period of the previous year, a new data by the Ministry of Finance showed.
“The government’s financial statistics are reports of national and international interest, as they highlight the total value of government operations in the country, as well as the government sector’s contribution to the national economy and the allocation of resources by the government for various purposes,” the Ministry of Finance said in a statement.
Employee compensation payments reached AED28.7 billion, compared to AED24.5 billion during the same period last year, showing a 16.6 percent increase.
“Employee compensation is the sum of cash and in-kind rewards payable to government employees, which include wages or salaries, allowances, bonuses and other benefits, as well as social contributions paid to social insurance programmes on behalf of employees,” WAM reported.
Other expenses under public spending include goods and services worth AED30.9 billion, followed by AED14.1 billion for social benefits.
Financial aid was valued at AED6.4 billion, followed by AED1.7 billion for interest, AED1.6 billion for fixed capital expenditure, AED304 million for grants, and AED3.8 billion for other expenses, the report said.
Revenues reached AED123.8 billion in the first quarter of this year, with a 39.1 percent increase, compared to last year’s AED88.9 billion compared to the same period last year.
Revenues were distributed across taxes on companies extracting oil and producing natural gas, banks operating in the country, customs fees, and other fees worth AED56.7 billion.
Social contributions amounted to AED4.9 billion and other revenues to AED62.2 billion, the data showed.
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