«Finance»: Expenditures reached 120.3 billion dirhams

AED 143.1 billion in government revenues in the fourth quarter of 2022

The Ministry of Finance confirmed that tax revenues reached 75 billion dirhams within 3 months. Archival

The Ministry of Finance (MoF) announced yesterday the results of the preliminary government finance statistics report for the fourth quarter of 2022, based on the standards of the Government Finance Statistics Manual issued by the International Monetary Fund (IMF), and in accordance with the open data policy followed by the UAE.

The preliminary results showed that the value of revenues at the state level amounted to AED 143.1 billion in the fourth quarter of last year, compared to AED 133.9 billion during the same quarter in 2021, while the value of tax revenues reached AED 75 billion during the last three months of 2022, compared to AED 58 billion in the same period of 2021.

Social contribution income reached AED 3.9 billion during the fourth quarter of 2022, compared to AED 3.5 billion in the fourth quarter of 2021.

The results indicated that the value of other income reached AED 64.2 billion during the fourth quarter of 2022, compared to AED 72.4 billion in the same period of 2021.

Expenditures reached AED 120.3 billion during the fourth quarter of last year, compared to AED 136.2 billion during the same quarter of 2021, with current expenses reaching AED 111.2 billion in the fourth quarter of 2022, compared to AED 127.9 billion in the fourth quarter of 2021.

Current expenses consist of workers' compensation, use of goods and services, consumption of fixed capital, interest paid, subsidies, grants, social benefits and other transfers.

Financial operations during the fourth quarter of 2022 resulted in a clear and tangible improvement in the value of net lending/borrowing, as preliminary results indicated that it increased at the state level to AED 22.8 billion in the fourth quarter of 2022 compared to -(2.2) billion dirhams in the fourth quarter of 2021.

Net lending/borrowing is a summary measure of governments' ability or need to borrow, and an indicator of the financial impact of government activity on the rest of the economy.