MoF announces results of preliminary state-level Government Finance Statistics for Q4 2022

The Ministry of Finance (MoF) announced today the results of the preliminary government finance statistics report for Q4 2022, based on the standards of the Government Finance Statistics Manual issued by the International Monetary Fund. In line with the UAE's open data policy, the preliminary results showed an increase in revenues at the state level from AED133.9 billion during Q4 of 2021 to AED143.1 billion during Q4 2022. The value of tax revenues increased from AED58.0 billion during Q4 2021 to AED75.0 billion during Q4 2022. Revenues from social contributions increased from AED3.5 billion during Q4 2021 to AED3.9 billion during Q4 2022. The results also indicated that the value of other revenues reached AED64.2 billion during Q4 2022, compared to AED72.4 billion during Q4 2021. In terms of expenditures, the results showed that the expenditures at the state level reached AED120.3 billion during Q4 2022, compared to AED136.2 billion during Q4 2021. The current expenditures reached AED111.2 billion in Q4 2022, compared to AED127.9 billion in Q4 2021. Current expenditures consist of workers’ wages, use of goods and services, consumption of fixed capital, paid interest, subsidies, grants, social benefits, and other transfers. The financial operations during Q4 of 2022 resulted in achieving a significant increase in the value of net lending/borrowing. The preliminary results showed an increase at the state level from AED(-2.2) billion during Q4 2021 to AED22.8 billion during Q4 2022. Net lending / borrowing measures governments' ability to lend or their need to borrow and is considered an indicator of the financial impact of government activity on the economy.