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The federal government’s consolidated revenues rose to AED 143.22 bn in 2Q 2024, up from AED 120.63 bn in 1Q 2024, fueled by increased tax income of AED 95.49 bn, according to Finance Ministry data (pdf). Meanwhile, expenses climbed to AED 95.63 bn in 2Q, up from 1Q’s AED 91.49 bn, according to the report.
Employee compensation and the use of goods and services dominated the budget, with spending on salaries reaching AED 31.30 bn and goods and services spending reaching AED 31.42 bn.
Despite the uptick in spending, the UAE recorded a net lending/borrowing position of AED 42.21 bn in 2Q 2024, up from AED 23.54 bn in 1Q.
