AED14.8 bn grants provided by UAE in nine months

Photo: WAM

The value of grants provided by the UAE in the first nine months of 2019 amounted to AED14.8 bn, a growth of 8 percent from AED13.7 bn in the same period of 2018, according to figures released by the Ministry of Finance.

The total value of registered grants provided by the country during that period accounts for 74.7 pc of the total grants offered across the year, which totaled AED19.8 bn.

These grants include current or capital transfers from the federal government to government authorities, international organisations and foreign governments, with the exception of transfers between the federal government and local governments.

The Organisation for Economic Co-operation and Development, OECD, ranked the UAE as the world's largest donor of official development aid, relative to its national income, in 2017.

According to the Development Assistance Committee of the Organisation for Economic Cooperation and Development, OECD, the UAE is the world's largest donor of official development aid, with grants accounting for 5.2 percent of its total government expenditure, which includes federal and local expenditures for each emirate amounting to AED200.5 billion from January to the end of June.

Figures issued by the ministry show that the value of grants provided by the UAE in Q1 2019 amounted to AED8.614 bn. During Q2 2019, the figure declined to AED1.868 bn, before rebounding to AED4.308 bn in Q3.

The total value of the grants provided by the UAE by the end of Q3 of 2019 accounted for 5 pc of the total government spending, including federal and local expenditures for each emirate, which stood at AED292.9 bn by the end of September.

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