UAE governments post Dh28 billion surplus

Abu Dhabi: The UAE government’s surplus posted Dh28 billion in the first nine months of 2018, according to the latest figures released by the Federal Competitiveness And Statistics Authority.

The surplus increase is attributed to the rise in the UAE government’s revenues, which hit Dh304.5 billion in 2018’s first nine months, an increase of 4.8 per cent compared to the same period of 2017.

Meanwhile, the expenditures increased from Dh259.3 billion to Dh276.2 billion during the same monitoring period. Total current expenditure as well as capital expenditure also increased by 4.8 per cent in the third quarter of 2018, resulting in the net operating balance recording a deficit of Dh2.5 billion in the third quarter of 2018, compared to a surplus of Dh21.7 billion in the previous quarter.

Oil prices improvements in the second and third quarters of 2018 as well as ongoing fiscal reforms have contributed to diversifying non-energy revenues sources, raising the total government revenues.