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).