Preliminary Results: UAE Government Finance Statistics Q4 2023 Unveiled

UAE, 19 March, 2024 : The UAE Ministry of Finance has released the preliminary results of the UAE Government Finance Statistics Report for the fourth quarter of 2023. Government revenues reached AED155.9 billion, while expenditures amounted to AED131.3 billion during this period.

These expenditures covered various categories, including net investment in nonfinancial assets and current expenses such as wages, services, interest payments, subsidies, and social benefits. Notably, the value of net lending/net borrowing stood at AED24.6 billion, indicating the government's financial impact on the economy.

Younis Haji Al Khoori, Undersecretary of the Ministry of Finance, highlighted the government's commitment to diversifying revenue sources and enhancing financial efficiency. These efforts aim to bolster development, competitiveness, and economic sustainability.

Furthermore, the UAE is prioritizing competitiveness and economic dynamism, alongside improvements in its tax system, to support its strategic goals of economic diversification and global business leadership.

The publication of these preliminary results aligns with the UAE's open data policy, following IMF standards outlined in the Government Finance Statistics Manual. These statistics provide crucial insights into government operations, resource allocation, and financial activities, serving as vital tools for financial analysis, policy-making, and economic monitoring.

The open data portal established by the UAE Ministry of Finance enables access to this information, supporting transparency, research, and public engagement in line with the principles of open government data and digital transformation.

Source: www.mof.gov.ae