The Central Bank of the UAE’s public budget reached an all-time high of AED650bn (US $177bn) by the end of June 2023.
Its latest report shows that a monthly increment of 0.2% led the public budget to rise to AED649.42bn at the end of June, compared to AED648.12bn in the month of May, an increase of AED1.3bn within one month.
On an annual basis, the central bank’s public budget surged by 32.15%, equivalent to AED158bn, in contrast to some AED491.4bn in June last year.
This momentum extended into the current year with a 17.5% rise since the start of the year, compared to some AED552.5bn at the end of December 2022, an increment of AED97bn during the year’s first half.
Other key statistics included:
- Investments held until maturity were earmarked at AED211.32bn, while deposits accounted for AED135.34bn
- Loans and advances received an allocation of AED4.18bn, and other assets were assigned AED41.38bn
- Conversely, on the liabilities and capital side, AED284.78bn was allocated for current and deposit accounts
- Cash permits and Islamic deposit certificates were assigned some AED205.72 billion
The 2023 H1 figures represent the largest sums ever recorded, pro rata, by the nation’s Central Bank.
