Friday 19 October 2018

UAE government spending tops $2.4 billion in Q1

ABU DHABI, August 3, 2017

The actual spending of UAE federal departments amounted to Dh8.92 billion ($2.42 billion) during the first quarter (Q1) of 2017, with a 100 per cent budget execution rate, according to a Ministry of Finance report.

The service sector spending hit Dh3.207 billion, which accounts for 36.96 per cent of Q1 total spending, while Dh2.384 billion went to the public order and safety affairs sector- 26.73 per cent, reported Wam, the Emirates official news agency.

Accordingly, the two sectors make up 62.7 per cent of total expenditure, with the education sector getting 14.5 per cent, i.e. Dh1.293 billion, then came the health sector with 8.94 per cent, or about Dh797 million while social security spending amounted to 8.43 per cent or Dh752 million.

Spending over the economic affairs sector reached Dh258 million, or 2.9 per cent by the end of Q1, with the housing and community facilities sector receiving Dh78 million, 0.87 per cent, while Dh53 million, 0.59 per cent, was spent over environmental protection, Dh42 million over the leisure, culture and religion, which accounts for 0.47 per cent of total spending.

The Ministry regularly provides all analytical financial data assessing the performance of federal departments in alignment with international practices and out of its commitment to ensure transparency standards.

The practice also follows the rulings of Articles 9 and 50 of Federal Law No 8 of 2011 on the rules of preparing the general budget, balance sheet, final accounts, expenditure spending and revenue collection, before raising periodical reports to the Cabinet on this score.

Tags: abu dhabi | Health | Service sector |

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