- The UAE government's revenue for Q1 2023 reached Dh115.6 billion ($31.5 billion), indicating continued economic growth and successful diversification efforts. During the same period, the government's expenditure amounted to Dh92.5 billion, as reported by the Ministry of Finance.
- The total revenue was composed of Dh63.5 billion from taxes, Dh3.9 billion from social contributions, and Dh48.2 billion from property income, the sale of goods and services, fines, penalties, and other transfers.
Why it matters
The UAE's strong revenue and economic growth in the first quarter of 2023, along with its ongoing diversification efforts, indicate the country's resilience and ability to maintain positive financial performance. The surplus of Dh23.2 billion in net lending/net borrowing suggests that the government's economic activities positively impact other sectors of the economy.
