October 1, 2022

Dubai Week

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United Arab Emirates: Government spending of 87.4 billion dirhams in the first quarter

United Arab Emirates: Government spending of 87.4 billion dirhams in the first quarter

ABU DHABI (WAM) UAE government spending rose to 87.4 billion dirhams in the first quarter of this year, up 19.6% or 14.34 billion dirhams from 73.7 billion dirhams in the same period last year. Figures published for the Ministry of Finance. According to Finance Ministry data, government spending at the state level in the first quarter of this year included about 28.7 billion dirhams for workers’ compensation, an increase compared to about 24.6 billion dirhams in compensation in the comparable period from 2021. 16.6% or equivalent to 4.1 billion dirhams. Labor compensation is the sum of cash and material rewards paid to government employees, and includes wages or salaries, allowances, bonuses and other benefits, as well as social contributions made on behalf of employees to social insurance schemes. Government expenditure includes about 30.9 billion dirhams using goods and services, 14.1 billion dirhams for social benefits, 6.4 billion dirhams for financial grants, 1.7 billion dirhams for interest, 1.6 billion dirhams for consumption of fixed capital, 304 million dirhams for subsidies and 3.8 billion dirhams. For other expenses. Revenue in the first quarter of this year was 123.8 billion dirhams, up 39.1%, or 34.8 billion dirhams, compared to 88.9 billion dirhams in the same period last year, the figures showed. Its first quarter revenue was distributed in taxes of 56.7 billion dirhams on oil and natural gas producers, banks operating in the state, customs duties and some other fees and social contributions of 4.9 billion dirhams, and 62.2 billion dirhams in other revenues. Dirhams.

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