Gulf Business: The UAE’s public spending in Q1 2022 totalled Dhs87.4bn, an increase of 19.6 per cent and equivalent to Dhs14.34bn, compared to Dhs73.7bn in the same period of the previous year, according to statistics from the Ministry of Finance.
According to the state news agency, WAM, the figures also highlighted the fact that the country’s public spending in Q1 2022 included Dhs28.7bn for employee compensation payments, compared to Dhs24.6bn in the same reporting period in 2021, an increase of 16.6 per cent and equivalent to Dhs4.1bn.
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 included the use of goods and services worth Dhs30.9bn, as well as Dhs14.1bn for social benefits, Dhs6.4bn for financial aid, Dhs1.7bn for interest, Dhs1.6bn for fixed capital expenditure, Dhs304m for grants, and Dhs3.8bn for other expenses.
The statistics also showed that revenues amounted to Dhs123.8bn in the first quarter of 2022, an increase of 39.1 per cent or equivalent to Dhs34.8bn, compared to Dhs88.9bn in the same period of 2021.
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 Dhs56.7bn, while social contributions amounted to Dhs4.9bn and other revenues to Dhs62.2bn.
The Ministry of Finance said the government’s financial statistics are reports of national and international interest, as they highlight the total value of government operations in the country, as well as the government sector’s contribution to the national economy and the allocation of resources by the government for various purposes.
https://gulfbusiness.com/uaes-public-spending-in-q1-2022-amounts-to-dhs87-4bn/
