MoF announces preliminary government finance statistics report for Q3, 2022

MoF announces preliminary government finance statistics report for Q3, 2022

In line with the open data policy followed by the United Arab Emirates, the Ministry of Finance announced today the results of the preliminary government finance statistics report for the third quarter (Q3) of 2022, based on the standards of the Government Finance Statistics Manual issued by the International Monetary Fund.

The preliminary results showed an increase in revenues at the state level from AED 126.3 billion during Q3 of 2021 to AED 148.1 billion during Q3 of 2022.

Revenues from social contributions increased by 10 percent compared to the same period last year – from AED 3.4 billion during Q3 of 2021 to AED 3.8 billion during Q3 of 2022.

In terms of expenditures, the results showed an increase in expenditures at the state level from AED 91.8 billion during Q3 of 2021 to AED 96.5 billion during Q3 of 2022 (an increase by 5 percent).

Current expenditures increased by 7 percent during Q3 of 2022, to reach AED 93.0 billion in Q3 of 2022, compared to AED 87.3 billion in Q3 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.

News Source: Emirates News Agency

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