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UAE govt revenues rise to Dh148.1b in third quarter of 2022

Revenues from social contributions increased by 10% compared to the same period last year

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Ministry of Finance has announced the results of the preliminary Government Finance Statistics at the state level for the third quarter of of 2022.

Referring to the latest statistics released on Wednesday, the UAE Ministry of Finance said the government's revenue rose to Dh148.1 billion during the third quarter of this year.

"The figure marks a substantial increase from the revenues of Dh126.3 billion recorded during the third quarter of 2021," according to the ministry.

In line with the open data policy followed by the UAE, the Ministry of Finance said the results of the preliminary government finance statistics report for the third of 2022, based on the standards of the Government Finance Statistics Manual issued by the International Monetary Fund.

Revenues from social contributions increased by 10 per cent compared to the same period last year – from Dh3.4 billion during the third quarter of 2021 to Dh3.8 billion during the third quarter of 2022.

In terms of expenditures, the results showed an increase in expenditures at the state level from Dh91.8 billion during the third quarter of of 2021 to Dh96.5 billion during the third quarter of of 2022 (an increase of 5 per cent). Current expenditures increased by 7 per cent during the third quarter of of 2022, to reach Dh93.0 billion in the third quarter of of 2022, compared to Dh87.3 billion in the third quarter of of 2021. Current expenditures consist of workers’ wages, use of goods and services, consumption of fixed capital, paid interest, subsidies, grants, social benefits, and other transfers.

— muzaffarrizvi@khaleejtimes.com

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