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Mon 27 Mar 2017 12:59 PM

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UAE's nine-month 2016 federal budget surplus up 130%

Total gov’t revenues estimated at AED37.463bn, expenditure at AED29.717bn, says WAM

UAE's nine-month 2016 federal budget surplus up 130%
(Image: WAM)

The UAE federal budget surplus rose by 130 percent to $2.18 billion (AED8 billion) during the first nine months of 2016 from $948 million (AED3.48bn) in the same period in 2015.

An analysis by the news agency WAM revealed total revenues of the federal government reached AED37.463bn ($10.2bn) during the January-September 2016 period, with expenditures hitting AED29.717bn ($8bn).

Revenues rose by around seven percent to AED37.463bn compared to AED35.04bn, while expenditures declined from AED31.6bn to AED29.717bn by end of September 2016.

Revenues collected from service charges reached AED9.93 billion, accounting for 75.1 percent of 2016’s total revenue, estimated at AED13.21 billion, according to the latest statistics released by the Ministry of Finance.

The federal government’s revenue levied through the e-dirham system reached AED5.16 billion, which equals 52 percent of the government’s total service charges, 16 percent of which were collected manually and 32 percent automatically.

The Ministry of Interior and the Ministry of Human Resources and Emiratisation account for the largest share of the service charge revenue collected during the first nine months of 2016, with the former representing 43 percent and the latter accounting for 36 percent.

The 2016 federal budget has estimated the revenues of UAE ministries at AED48.557 billion and expenditures at AED48.567 billion after adopting the zero-based budgeting system, the news agency reported.

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