UAE government revenue reached AED 155.9 billion in Q4 2023

The UAE Ministry of Finance today released the preliminary results of the UAE Government Finance Statistics Report for the fourth quarter of 2023, revealing that government revenue amounted to AED 155.9 billion.

According to the Treasury According to data, the value of total expenses amounted to AED 131.3 billion and consists of net investment in non-financial assets and current expenses, including salaries of employees, use of goods and services, consumption of fixed capital, interest paid, subsidies, subsidies, social aid. benefits and other transfers.

The results of financial transactions during the fourth quarter of 2023 show that the value of net lending/net borrowing amounted to AED 24.6 billion. Net loan value/net borrowing is a summary measure of a government’s ability to lend or its need to borrow, and an indicator of the financial impact of government activity on other sectors of the economy.

Younis Haji Al Khoori, Undersecretary of the Ministry of Financesaying,

“The UAE government is interested in diversifying its revenue sources, while ensuring optimal use of financial resources and greater efficiency of government spending. This will positively reflect on all aspects of development and improve the competitiveness and economic sustainability of the country.”

Al-Khoori aggregate,

“The United Arab Emirates is enhancing its competitiveness, as well as its commitment to fostering a dynamic economic environment and improving its tax system. “These are in line with its strategic objectives of diversifying the economy and consolidating its position as a leading global business and investment centre.”

Publish the preliminary results of the UAE Government Finance Statistics Report for the fourth quarter of 2023 is in line with the open data policy followed by the United Arab Emirates and based on the standards of the Government Finance Statistics Manual issued by the International Monetary Fund. Government Finance Statistics (GFS) show the total volume of government operations in the country and measure the financial activities of the government in an economy and the allocation of government resources.

These statistics are an essential element for sound financial analysis and monitoring of public spending, and play a fundamental role in establishing financial programs and monitoring economic policies. It is a key type of macroeconomic statistics that serves political leaders, decision makers, researchers and those interested in the financial sector, making it one of the statistics of high local and international interest. For this reason, the open data portal in the UAE Ministry of Finance allows access to data that can be used by developers, researchers, media and the public, in line with the concept of open government data and the era of digital transformation.

News source: Emirates News Agency