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UAE revenue jumps 31.8% in 2022

The UAE Ministry of Finance reported a 6.1% increase in expenditure last year compared to 2021, which amounted to around $116.3 billion.
La Mer North marina is seen with the Burj Khalifa and the Dubai skyline seen in the background, United Arab Emirates, Feb. 1, 2020.

DUBAI — The United Arab Emirates (UAE) saw a revenue increase of 31.8% in 2022 compared to the year before, the country’s Ministry of Finance reported Sunday. 

The ministry wrote in a tweet that "a 31.8% year-on-year growth in revenues" was recorded in 2022, citing Finance Minister Sheikh Maktoum bin Mohammed bin Rashid. It did not provide a monetary figure for the 2022 full-year value. 

The UAE saw gains last year attributed to a “quantum leap” in government revenue due to tax revenue growth, in addition to local economic activity that grew by $5.26 billion, according to the state’s 2022 fiscal performance analysis results stated by the Emirates News Agency (WAM).

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