Dubai: During 2021, the revenues at the federal level increased by 26 per cent, from Dh367.9 billion in 2020 to Dh463.9 billion in 2021, MoF said on Tuesday.
Social contributions also rose by 5 per cent from Dh12.9 billion in 2020 to Dh13.5 billion in 2021. The value of other revenues (including interests received, dividends, rents, sales of goods and services, fines, penalties, and other transfers) increased by 24 per cent to Dh251.8.
Additionally, expenditures saw a 1 per cent increase from Dh399.5 billion in 2020 to Dh402.4 billion in 2021. On the other hand, capital expenditures decreased by 57 per cent to Dh20.0 billion. Current expenses including workers’ compensation, use of goods and services, consumption of fixed capital, interest paid, subsidies, grants, social benefits, and other transfers increased by 8 per cent to Dh382.4 billion in 2021.
In terms of net lending/borrowing, the results showed a significant increase at the federal level; while the results for 2020 showed a deficit of Dh31.7 billion, it achieved a surplus of Dh61.5 billion in 2021. Net lending/borrowing measures governments’ ability to lend or their need to borrow, and is considered an indicator of the financial impact of government activity on the economy.