Abu Dhabi – Mubasher: The United Arab Emirates posted on Sunday a budget surplus of AED 34.7 billion ($9.45 billion) for the first quarter of 2016, compared to AED 12.1 billion ($3.29 billion) for the same period of 2015.
Government revenues rose in Q1-16 by 14% to AED 85.7 billion ($23.33 billion), versus AED 74.9 billion ($20.39 billion) for Q1-15, according to a report by the Central Bank of the UAE.
Meanwhile, government spending declined in Q1-16 by 41% to AED 51 billion ($13.88 billion) from AED 87 billion ($23.69 billion) for Q1-15.
