UAE public spending touches Dh87.4 billion in Q1 2022
Revenues during the same period amounted to Dh123.8 billion, up 39.1 per cent
Abu Dhabi: The UAE’s public spending in the first quarter of 2022 totalled Dh87.4 billion, an increase of 19.6 per cent (Dh14.34 billion) compared to Dh73.7 billion in the same period of the previous year, according to statistics from the Ministry of Finance.
Revenues during the same period amounted to Dh123.8 billion, up 39.1 per cent (Dh34.8 billion), compared to Dh88.9 billion in the year-ago period.
Of the total spending, Dh28.7 billion went towards employee compensation payments, compared to Dh24.6 billion in the year-ago period, an increase of 16.6 per cent (Dh4.1 billion).
Employee compensation is the sum of cash and in-kind rewards payable to government employees, which include wages or salaries, allowances, bonuses and other benefits, as well as social contributions paid to social insurance programmes on behalf of employees.
Public spending also included goods and services usage worth Dh30.9 billion, as well as Dh14.1 billion for social benefits, Dh6.4 billion for financial aid, Dh1.7 billion for interest, Dh1.6 billion for fixed capital expenditure, Dh304 million for grants, and Dh3.8 billion for other expenses.
The distribution of first quarter revenues included taxes on companies extracting oil and producing natural gas, banks operating in the country, customs fees, and other fees worth Dh56.7 billion, while social contributions amounted to Dh4.9 billion and other revenues to Dh62.2 billion.