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.
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.
HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, emphasised that the UAE's strong fiscal performance and diversified government revenues reflect efficient fiscal policy, with overall fiscal balance surplus… pic.twitter.com/VAgm1srkOJ
— وزارة المالية | الإمارات (@MOFUAE) September 17, 2023
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).
