Dubai – Mubasher: The UAE public spending reached AED 408.1 billion in 2017 following various steps taken by the government to diversify revenues.
The deficit in the GCC country declined to AED 3.3 billion in the previous year, while government revenue increased to AED 404.8 billion, according to a report released by the Central Bank of the UAE (CBUAE).
Tax revenue surged 53.4% year-on-year to AED 166.9 million in 2017, while government subsidies skyrocketed 148.9% in the same year, registering AED 21.9 billion.
The UAE government spending on goods and services also soared 51% year-on-year to AED 94 billion, the CBUAE’s data showed.
