Complex Made Simple

UAE federal budget’s actual revenues top AED32bn

Government recently endorsed country's 2016 federal budget at a value of AED48.5bn

The value of actual revenues collected by the United Arab Emirates’ federal budget during the first half of the current year reached AED32.1 billion, comprising roughly 51.3 per cent of the projected value of actual income for the 2015 fiscal year.

The federal government’s expenditure during the six-month period amounted to AED27.1bn – approximately 43.3 per cent of the total figure set for the 2015 fiscal year when the budget was endorsed.

According to a report by the UAE Ministry of Finance, the total value of revenues the federal government projected for 2015 is AED62.5bn while expenditure is put at AED62.4bn.

The data, published by Al-Ittihad newspaper, indicates that ministries collected AED25.7bn or 52.3 per cent of the total value of actual income recorded in the first half of the current year.

Independent federal bodies bagged a total of AED6.4bn of the federal budget’s actual income during the January-June period.

It is noteworthy that the UAE government has recently endorsed the country’s 2016 federal budget at a value of AED48.5bn.

In the bill, the government allocated more than 55 per cent of the budget to social development projects, public services and other health and education sectors’ projects.