The UAE federal government’s consolidated revenues came in at some AED 533.4 bn in 2024, according to Finance Ministry data (pdf). This represents a 2.4% decrease from the previous year, when revenues came in at AED 546.6 bn, according to the previous year’s data (pdf).

Tax revenues were the main driver of the government’s overall revenues for the year, reaching AED 366.4 bn — representing 66% of the UAE’s total revenues in 2024. Tax revenues were up by 15.5% from 2023, when they came in at AED 307 bn.

Total expenditure climbed by 2% to reach AED 443.8 bn in 2024, compared to AED 435 bn in 2023. Breakdown of expenditures:

  • AED 131.9 bn went to spending on goods and services;
  • AED 124.5 bn were spent on salaries and employee compensation;
  • AED 76.8 bn were spent on social benefits;
  • AED 31.6 bn went to spending on subsidies;
  • AED 14.9 bn were allocated for financial interest payments;
  • AED 1.9 bn for grants;
  • AED 10.1 bn for fixed capital consumption;
  • AED 17.1 bn accounted for other unnamed expenses.

The UAE borrowed less in 2024 than it did during the previous year: Net lending/borrowing at the state level amounted to approximately AED 109.6 bn, down marginally from AED 111.7 bn in 2023.

The general fiscal surplus came in at AED 89.6 bn dirhams last year, down from AED 111.6 bn in 2023.

The UAE’s fiscal surplus could fall further this year: Fitch Solutions’ research unit BMI expects lower oil prices due to the growth in production to affect oil exports and revenues, which will narrow the UAE’s fiscal surplus from 3.7% of GDP in 2024 to 2.2% in 2025, it said in January. It also sees the current account surplus narrowing from 8.1% of GDP in 2024 to 7.2% of GDP in 2025.

The government plans to spend more this year: The Federal National Council approved the UAE’s largest national budget to date back in November, totaling AED 71.5 bn for both revenues and expenditures for 2025, while also integrating the Union General budget with the budgets of independent federal entities.

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