Gov’t revenues and spending were up last year: The Federal National Council (FNC) approved the Union’s final consolidated financial statements for FY 2024, providing additional insights over the UAE’s main sources of operational revenues as well as the government’s total expenditures during the period, state news agency Wam reported.

Remember: The UAE federal government’s consolidated revenues came in at some AED 533.4 bn in 2024, marking a 2.4% decrease from the previous year, when revenues came in at AED 546.6 bn. 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.

Last year’s operating revenues — coming in at AED 74.5 bn, according to Emarat Al Youm — were up 12.5% y-o-y. The first included returns from investments, deposits, and dividends from government-owned companies (comprising AED 8 bn), and interest from deposits and treasury bills (AED 4.5 bn), Wam quotes Financial Affairs Minister Mohamed bin Hadi Al Hussaini as saying. The second group included revenues from federal services fees, the most notable of which included certificate attestation fees (AED 1.1 bn), wireless device permit fees (AED 1.1 bn), commercial agency and business activity licensing fees (AED 850 mn), medical treatment fees (AED 650 mn), and medical institutions licensing and practice permits (AED 508 mn), among others.

Actual expenditures totaled AED 63.7 bn, distributed across various sectors that included — but were not limited to — salaries and wages (AED 24 bn), defense and security (AED 15.6 bn), and social affairs (AED 10.6 bn). Healthcare spending also exceeded AED 7 bn, while around AED 9.5 bn was allocated to education. Expenditures were also up 9.5% y-o-y.

The federal government’s total assets amounted to around AED 446.4 bn by the end of the year, up 14% y-o-y. This included government investments worth AED 240.1 bn distributed among major national institutions such as the Emirates Investment Authority (AED 165.5 bn), the Central Bank of the UAE (AED 37.4 bn), Emirates Development Bank (AED 6.4 bn), Etihad Rail (AED 6.5 bn), as well as investments in bonds (AED 20.9 bn).

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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