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UAE: Gov’t Expenditures Total $25.1 Bln in Q1

The Emirati capital Abu Dhabi. (WAM)
The Emirati capital Abu Dhabi. (WAM)
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UAE: Gov’t Expenditures Total $25.1 Bln in Q1

The Emirati capital Abu Dhabi. (WAM)
The Emirati capital Abu Dhabi. (WAM)

The preliminary results of the UAE Government Finance Statistics Report for the first quarter of 2023, published by the Ministry of Finance, revealed that the government’s revenues amounted to AED115.6 billion ($31.4 billion), and its expenditures totaled AED92.5 billion ($25.1 billion).

Total revenues included AED63.5 billion ($17.2 billion) of tax revenues, AED3.9 billion ($1 billion) of revenues from social contributions, and AED48.2 billion ($13.1 billion) of other revenues from property income, sales of goods and services, fines and penalties, and transfers not elsewhere classified.

According to the Ministry of Finance’s data, the value of total expenditures amounted to AED92.5 billion ($25.1 billion) consisting of net investment in nonfinancial assets and current expenses, including employees’ wages, use of goods and services, consumption of fixed capital, paid interest, subsidies, grants, social benefits, and other transfers.

The results of financial transactions during the first quarter of 2023 show the value of net lending/net borrowing amounted to AED23.2 billion ($6.3 billion). The net lending/net borrowing value is a summary measure of a governments’ ability to lend or their need to borrow, and an indicator of the financial impact of government activity on other sectors of the economy.

Younis Haji Al Khouri, Undersecretary of the Ministry of Finance, said: “These results reflect the efficiency of government expenditure and effective utilization of financial resources in directing them to priority strategic sectors. It also showcases the advancement of the government’s financial framework and its success in developing new and diversified sources of government revenue away from oil and adopting effective financial policies to manage and develop the government’s financial resources.”

“The government’s financial performance enhances the UAE’s competitiveness and its move towards sustainable socio-economic development. The World Bank projects that the UAE’s non-oil sector is expected to achieve strong growth by the end of 2023, driven by robust domestic demand, particularly in tourism, real estate, construction, transportation, and manufacturing sectors,” he added.

Publishing the preliminary results of the UAE Government Finance Statistics Report for the first quarter of 2023 is in line with the open data policy followed by the UAE and based on the standards of the Government Finance Statistics Manual issued by the International Monetary Fund.

Government Finance Statistics (GFS) show the total volume of government operations in the country and measure the financial activities of the government in an economy, and the government’s allocation of resources.

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FAO Aims for Key Outcomes at COP16 in Saudi Arabia

Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)
Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)
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FAO Aims for Key Outcomes at COP16 in Saudi Arabia

Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)
Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)

Dr. Abdul Hakim Elwaer, Assistant Director-General of the Food and Agriculture Organization (FAO), stated that the organization will take an active role at COP16, the UN conference on combating desertification, scheduled to take place in Saudi Arabia in early December.

In remarks to Asharq Al-Awsat, he expressed confidence that the conference—the first of its kind in the Middle East—would produce significant outcomes.

Elwaer’s comments came during a roundtable organized by FAO’s regional office in Cairo, attended by a select group of media representatives. The session focused on FAO’s participation in the upcoming conference and the importance of the Rio Trio —the integrated framework of the three major UN conventions addressing climate change, biodiversity conservation, and desertification.

Fida Haddad, FAO’s Program Officer for Land Rehabilitation and Climate Change, highlighted the interconnectedness of the three conventions and noted that COP16 would place a strong emphasis on land and water rehabilitation and their sustainable management.

Haddad pointed out that approximately 90% of the Middle East is affected by arid conditions. Despite this, local communities and Arab governments have made notable progress in addressing desertification and drought. She also announced that, for the first time, FAO has successfully placed food systems on the COP16 agenda, enabling discussions on how land rehabilitation can enhance food supply chains and systems.

Elwaer underscored FAO’s central role in achieving the second Sustainable Development Goal (SDG): eradicating hunger. He emphasized that FAO actively engages in the UN conventions on climate change, biodiversity, and desertification, which collectively contribute to this mission.

FAO’s focus, according to Elwaer, is on transforming food and agricultural systems to become more inclusive, efficient, and sustainable, aiming for better production, nutrition, and livelihoods. He highlighted the organization’s success in integrating these priorities into the agendas of the three conventions and collaborating with host countries on joint initiatives.

He further noted that Saudi Arabia’s hosting of COP16 is particularly significant for the region, which faces pressing challenges such as water scarcity, desertification, and food insecurity. The conference presents an opportunity for Middle Eastern nations to highlight these issues, explore solutions, and ensure their inclusion in global environmental discussions, not only at this event but in future COP sessions, he underlined.

Elwaer emphasized the growing global attention on desertification, as it is now impacting regions previously unaffected, such as southern Europe and parts of Latin America. These areas are witnessing alarming declines in arable land and forests, prompting them to seek lessons from the Arab world, which has developed resilience strategies to combat desertification over centuries.

FAO will have a strong presence at COP16, with two dedicated pavilions—one in the Blue Zone for official delegations and another in the Green Zone to engage civil society and conference participants, he said.

He added that in collaboration with Saudi Arabia and the UN, FAO will lead coordination on Food Day and Governance Day, scheduled for December 5 and 6, respectively. The organization will also participate in other specialized sessions throughout the conference.