UAE records strong financial performance in 2023 and approves financial accountability law

2024-06-06 09:08:16

(MENAFN) The UAE Ministry of Finance released its consolidated financial performance statement on Wednesday, revealing key figures for the federal government's fiscal year of 2023. According to the statement, the government recorded revenues totaling 66.2 billion dirhams (USD18.03 billion), while actual expenditures amounted to 58.2 billion dirhams during the same period. Additionally, the statement highlighted that the total value of government assets reached 391.7 billion dirhams in 2023, indicating a robust financial position for the federal government.

In a separate development on the same day, the Federal National Council took significant steps in the legislative process by approving a draft federal law to ratify the unified final account for the fiscal year ending in 2023. This move underscores the government's commitment to transparency and accountability in its financial management practices. By approving the draft law, the Federal National Council plays a crucial role in ensuring oversight and governance over the country's finances, contributing to the overall stability and effectiveness of the UAE's fiscal policies.

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