United Arab Emirates Records AED 9.75 Billion Budget Surplus in 2Q 2020

The Federal Government of the United Arab Emirates (UAE) recorded a budget surplus of AED 9.75 billion at the end of the second quarter of 2020 (2Q 2020), according to media reports.

By the end of 2Q 2020, Government revenue stood at over AED 34.7 billion, while Government expenditure was around AED 25 billion, revealed a Financial Performance Report from UAE’s Ministry of Finance.

It also reported that a surplus of AED 7.95 billion was generated in 2Q 2020, following an AED 1.8 billion surplus in the previous quarter. Of the AED 19.45 billion revenue accrued in 2Q 2020, around 56% was contributed by the Ministry of Finance.

According to Mo...