Current spending rose 6.3% to 273.1 billion dirhams due to "a general increase in all spending categories except subsidies," the central bank said. The central bank confirmed UAE GDP growth of 7.6% in 2022 and said growth would slow to 3.9% in 2023 mainly on a decline in oil production although non-oil growth will partially offset this. It projects growth at 4.3% in 2024. ($1 = 3.6717 UAE dirhams) (Reporting by Yousef Saba; editing by Philippa Fletcher)
DUBAI, May 10 (Reuters) - The United Arab Emirates
posted a fiscal surplus of 169.6 billion dirhams ($46.19
billion) in the first nine months of 2022, a 165% increase from
the same period of 2021, the central bank said on Wednesday.
Revenues rose 35.6% from January to end-September 2022 to
453.7 billion dirhams on the back of "strong oil and non-oil
growth and favourable oil prices", the Central Bank of the UAE
said in a report.
Total spending was up 5% year-on-year to 248.1 billion
dirhams in the nine-month period. Capital spending - measuring
net investment in non-financial assets - fell nearly 20% to 10.9
billion dirhams.
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