The Ministry of Finance: 26% growth in government revenues during 2021
The Ministry of Finance announced today the results of the final government financial statistics for the fiscal year ending 2021, in accordance with the open data policy followed by the United Arab Emirates, and based on the standards of the Government Financial Statistics Manual issued by the International Monetary Fund.
The results showed an increase in the value of revenues at the state level from 367.9 billion dirhams in 2020 to 463.9 billion dirhams in 2021, by 26%, and social contributions revenues increased by 5%, from 12.9 billion dirhams in 2020 to 13.5 billion dirhams in 2021.
The value of other revenues amounted to About 251.8 billion dirhams during 2021, compared to 203.8 billion dirhams during 2020, recording an increase of 24%. Other revenues consist of interests received, dividends, rents, sales of goods and services, fines, penalties and other transfers.
In terms of expenditures, the results indicated an increase in the value of expenditures at the state level from 399.5 billion dirhams during the year 2020 to 402.4 billion dirhams in 2021, i.e. 1%, while the value of current expenditures increased by 8% during 2021, to reach 382.4 billion dirhams, compared to With 353 billion dirhams in 2020.
Current expenses consist of workers’ compensation, use of goods and services, consumption of fixed capital, interest paid, financial subsidies, grants, social benefits, and other transfers.
As for capital expenditures, it decreased by 57% from 46.5 billion dirhams during 2020 to 20 billion dirhams in 2021. As
for net lending / borrowing, the results indicated a noticeable increase in net lending / borrowing at the state level, while the results for the year 2020 showed a deficit In this index, with a value of 31.7 billion dirhams, this index achieved a surplus of 61.5 billion dirhams in 2021.
Net lending/borrowing is a summary measure of governments' ability to lend or their need to borrow and can be considered an indicator of the financial impact of government activity on the economy.
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