Economy UAE’s total revenue rose 26% and spending up 1% in 2021 By Reuters October 26, 2022 UAE Ministry of Finance The UAE's federal government said in June it aimed to boost this year's federal budget by AED1.23 billion The United Arab Emirates’ (UAE) state revenues totalled AED463.9 billion ($126.3 billion) in 2021, up 26 percent from 2020, state news agency WAM reported on Tuesday, citing the finance ministry. State expenditure totalled AED402.4bn in the same period, up one percent on 2020, WAM said. The figures pointed to an overall surplus of AED61.5 billion last year. WAM said “social contributions” rose by five percent to AED13.5bn in 2021. Current expenses rose eight percent to AED382.4bn last year. That includes workers’ compensation, use of goods and services, consumption of fixed capital, interest paid, subsidies, grants, social benefits and other transfers. The UAE’s federal government said in June it aimed to boost this year’s federal budget by AED1.23bn, which would increase the budget announced in October to just over AED60bn. In addition to the federal budget, which is a fraction of consolidated state spending but often an indication of official plans for the economy, individual emirates such as capital Abu Dhabi and business hub Dubai also have their own budgets.