Stock Dirhams ATM cash currency
The financial operations during Q4 of 2022 resulted in achieving a significant increase in the value of net lending/borrowing. Image Credit: Shutterstock

Dubai: The UAE Ministry of Finance (MoF) announced today the results of the preliminary government finance statistics report for Q4-2022.

The results for the fourth quarter showed an increase in revenues at the state level from Dh133.9 billion in 2021 to Dh143.1 billion in 2022. The value of tax revenues surged from Dh58.0 billion in 2021 to Dh75.0 billion in 2022.

Revenues from social contributions increased to Dh3.9 billion. The results also indicated that the value of other revenues reached Dh64.2 billion during Q4-2022, compared to Dh72.4 billion during the fourth quarter of 2021.

The expenditures at the state level reached Dh120.3 billion in Q4-2022, compared to Dh136.2 billion compared to the same quarter in 2021. The current expenditures reached Dh111.2 billion for the given period.

Current expenditures consist of workers’ wages, use of goods and services, consumption of fixed capital, paid interest, subsidies, grants, social benefits, and other transfers.

“The financial operations during the quarter resulted in achieving a significant increase in the value of net lending/borrowing,” it was said.

The preliminary results showed an increase at the state level from Dh(-2.2) billion during Q4-2021 to Dh22.8 billion during the same quarter last year.