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FINANCIAL NEWS
UAE fiscal surplus hits USD107.85b in 2013
27 Oct 2014
(MENAFN) According to the latest data published by the UAE Finance Ministry, the UAE recorded a fiscal surplus of around Dh56.3 billion in 2013 despite a registered increase in public spending by nearly 15 percent, Emirates 24/7 reported.
The latest figures showed that revenue was up by nearly 4.5 percent to USD107.85 billion, which is one of its highest levels, while public spending surged by about 15 percent to reach USD339.9 billion in 2013.
The report compared these figures with the figures of 2012 and 2011 when expenditure stood at USD Dh296.7 billion and revenue at USD76 billion, while reaching USD93.56 billion and USD103.38 billion, respectively.
These figures show that the surplus in the consolidated financial account (CFA), which covers the federal budget and spending by each emirate, was below the 2012 surplus of about USD22.43 billion but above the USD9.82 surplus recorded in 2011.
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