(MENAFN- Emirates News Agency (WAM))
ABU DHABI, 26th May, 2019 (WAM) -- Grants provided by the UAE locally and overseas stood at AED19.8 bn in 2018, a growth 14.7 percent on year, statistics by the Central Bank of United Arab Emirates have shown.
Grants provided by the UAE in in H1-2018 hit AED6.8 bn, before amounting to AED13 bn in the latter half, according to the statistics which are based on the Ministry of Finance's figures. Q3-2018 saw AED7 bn in grants and AED6.133 bn in Q4.
2018's grants account for 5 percent of total government expenditure, including federal and local spending of every emirate, which surged to circa AED398.3 bn.
The grants include current or capital transfers from the Government to other Government units, international organisations or foreign governments, excluding transfers between Federal and Local Governments.
The UAE was ranked in 2017 as the world's largest donor of official development aid, relative to its national income, according to the Organisation for Economic Co-operation and Development.
WAM/Hatem Mohamed
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