UAE’s public budget surges 32% to $176bn in June: CBUAE data

The UAE’s public budget experienced a 32 percent increase, reaching 650 billion dirhams ($176 billion) in June 2023, up from 491.4 billion dirhams in the same period of the previous year, as reported by the Emirates News Agency, also known as WAM.

Citing data from the Central Bank of the UAE for June, the WAM report also noted that the Emirates’ public budget saw a month-on-month increase of 0.2 percent in June 2023. The final figure for the month settled at 649.42 billion dirhams, marking a growth of 1.3 billion dirhams compared to the previous month’s 648.12 billion dirhams in May.

“This momentum extended into the current year with a 17.5 percent rise since the start of the year, compared to some 552.5 billion dirhams at the end of December 2022, an increment of 97 billion dirhams during the year’s first half,” said the state-run news agency in its report.

Source: Arab News