The Ministry of Finance (MoF) has announced the preliminary government finance statistics report for Q4 2022, adhering to the standards of the International Monetary Fund’s Government Finance Statistics Manual.
As part of the UAE’s open data policy, the report reveals an increase in state-level revenues from AED 133.9B in Q4 2021 to AED 143.1B in Q4 2022, with tax revenues increasing from AED 58.0B to AED 75.0B during the same period. Social contribution revenues increased from AED 3.5 billion to AED 3.9B, while other revenues decreased from AED 72.4B to AED 64.2B in Q4 2022.
Meanwhile, state-level expenditures decreased from AED 136.2B in Q4 2021 to AED 120.3B in Q4 2022, with current expenditures reducing from AED 127.9B n to AED 111.2B in Q4 2022.
Current expenditures, which include expenses such as wages, consumption of fixed capital, paid interest, social benefits, subsidies, grants, and transfers, were reported in the Q4 2022 government finance statistics, according to WAM.
The financial operations during this quarter resulted in a significant increase in the value of net lending/borrowing. The preliminary results indicate an increase at the state level from AED(-2.2)B in Q4 2021 to AED 22.8B in Q4 2022.
Net lending/borrowing is an essential measure of a government’s financial health, reflecting its ability to lend or borrow, and serves as an indicator of its impact on the economy.
