{"id":98540,"date":"2024-12-06T00:00:00","date_gmt":"2024-12-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/govt-revenues-reached-aed-404-9-bn-in-9m-2024\/"},"modified":"2024-12-06T00:00:00","modified_gmt":"2024-12-06T00:00:00","slug":"govt-revenues-reached-aed-404-9-bn-in-9m-2024","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/govt-revenues-reached-aed-404-9-bn-in-9m-2024\/","title":{"rendered":"Gov\u2019t revenues reached AED 404.9 bn in 9M 2024"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Government revenues \u2014 including both federal and local \u2014 reached<\/strong><strong> AED 404.9 <\/strong><strong>bn in 9M 2024<\/strong>, according to the latest data from the Finance Ministry picked up by <a target=\"_blank\" href=\"https:\/\/www.alkhaleej.ae\/2024-12-04\/405-%D9%85%D9%84%D9%8A%D8%A7%D8%B1%D8%A7%D8%AA-%D8%AF%D8%B1%D9%87%D9%85-%D8%A7%D9%84%D8%A5%D9%8A%D8%B1%D8%A7%D8%AF%D8%A7%D8%AA-%D8%A7%D9%84%D8%AD%D9%83%D9%88%D9%85%D9%8A%D8%A9-%D9%81%D9%8A-%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D8%AE%D9%84%D8%A7%D9%84-9-%D8%B4%D9%87%D9%88%D8%B1\/%D8%A3%D8%B3%D9%88%D8%A7%D9%82-%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA\/%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF\" style=\"\" rel=\"noopener\">Al Khaleej<\/a>. Taxes accounted for the lion\u2019s share of revenue, contributing 67.3% or AED 272.7 bn, while other revenues totaled AED 119.7 bn, and social contributions added AED 12.5 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The government recorded a <\/strong><strong>fiscal surplus<\/strong><strong> of AED 96.2 bn<\/strong>, with total expenditures amounting to AED 308.6 bn during the first nine months of the year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Breakdown of expenditures:<\/strong><\/p>\n<ul>\n<li>AED 92.5 bn went to <strong>salaries<\/strong> and <strong>employee compensation<\/strong>;<\/li>\n<li>AED 88.5 bn were spent on <strong>goods and services<\/strong>;<\/li>\n<li>AED 54.1 bn were directed toward <strong>social benefits<\/strong>, and AED 22.1 bn to financial aid;<\/li>\n<li>AED 10.7 bn were allocated to <strong>financial interest payments<\/strong>;<\/li>\n<li>AED 7.3 bn for <strong>fixed capital consumption<\/strong>, and AED 804k for financial grants;<\/li>\n<li>AED 20.7 bn invested in <strong>non-financial assets<\/strong>;<\/li>\n<li>AED 11.5 bn accounted for other expenses.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a 3Q basis, the government collected AED 141 bn in revenues<\/strong>, reflecting a 1.5% q-o-q decrease from 2Q but an increase of 16.9% compared to the first quarter of the year. Total expenditures reached AED 110.5 bn in 3Q, up 9.4% q-o-q from 2Q and 13.9% from 1Q.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- The government plans to spend more next year:<\/strong> The Federal National Council <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/b98258ac-1eee-4b07-926c-f6ee18144d97\/fnc-approves-bumper-federal%253cmark%253e-budget%253c%2Fmark%253e-for-2025\" style=\"\" rel=\"noopener\">approved a draft federal law<\/a> linking the Union General budget and independent federal entities' budgets for 2025, bringing the total to AED 71.5 bn in both revenues and expenditures. The budget, which the cabinet <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/0960dafe-47da-41d7-ab49-8c97b9474e4c\/uae-cabinet-approves-record-aed-71.5-bn-2025%253cmark%253e-budget%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">approved earlier in October<\/a>, marks the largest in UAE history and sets out a 12% y-o-y increase in expenditure compared to 2024\u2019s budget of AED 64.06 bn.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Total expenditures amounted to AED 308.6 bn during the first nine months of the year<\/p>\n","protected":false},"author":1,"featured_media":98541,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1556],"tags":[162,19,7],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-98540","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-budget-watch","tag-economy","tag-enterpriseam-uae","wpautop","entry"],"acf":{"mongo_id":"85d4870c-a5ea-4fc7-8b2e-be99fcb04b0f","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/639.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Gov\u2019t revenues reached AED 404.9 bn in 9M 2024","related_issue":[98533],"teaser":"Total expenditures amounted to AED 308.6 bn during the first nine months of the year","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.f4186b67-7c48-4e4e-aa1a-90b27bf1f694.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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