Tue, 2023-07-25 19:38
RIYADH: The UAE’s government’s revenues and expenditures both saw downturns in the first quarter of 2023, with the tax yield seeing a quarter-on-quarter drop of 11.5 billion dirhams ($3.13 billion).
According to figures released by the Ministry of Finance, income of 115.6 billion dirhams was recorded in the three months to the end of March 2023, down 19.22 percent from the previous quarter.
Expenditure also fell, dropping from 120.3 billion dirhams in the final three months of 2022 to 92.5 billion dirhams in the first quarter of this year.
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