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Government revenues — including both federal and local — reached AED 404.9 bn in 9M 2024, according to the latest data from the Finance Ministry picked up by Al Khaleej. Taxes accounted for the lion’s share of revenue, contributing 67.3% or AED 272.7 bn, while other revenues totaled AED 119.7 bn, and social contributions added AED 12.5 bn.
The government recorded a fiscal surplus of AED 96.2 bn, with total expenditures amounting to AED 308.6 bn during the first nine months of the year.
Breakdown of expenditures:
- AED 92.5 bn went to salaries and employee compensation;
- AED 88.5 bn were spent on goods and services;
- AED 54.1 bn were directed toward social benefits, and AED 22.1 bn to financial aid;
- AED 10.7 bn were allocated to financial interest payments;
- AED 7.3 bn for fixed capital consumption, and AED 804k for financial grants;
- AED 20.7 bn invested in non-financial assets;
- AED 11.5 bn accounted for other expenses.
On a 3Q basis, the government collected AED 141 bn in revenues, reflecting a 1.5% q-o-q decrease from 2Q but an increase of 16.9% compared to the first quarter of the year. Total expenditures reached AED 110.5 bn in 3Q, up 9.4% q-o-q from 2Q and 13.9% from 1Q.
REMEMBER- The government plans to spend more next year: The Federal National Council approved a draft federal law linking the Union General budget and independent federal entities’ budgets for 2025, bringing the total to AED 71.5 bn in both revenues and expenditures. The budget, which the cabinet approved earlier in October, marks the largest in UAE history and sets out a 12% y-o-y increase in expenditure compared to 2024’s budget of AED 64.06 bn.
