Central Bank of the UAE’s H1 2023 budget revealed

The Central Bank of the UAE‘s public budget reached an all-time high of Dhs650bn by the end of June 2023, as revealed by its latest fiscal report.

The report for June 2023 showed that a monthly increment of 0.2 per cent led the public budget to rise to Dhs649.42bn at the end of June, compared to Dhs648.12bn in the previous month of May, an increase of Dhs1.3bn within one month.

On an annual basis, the central bank’s public budget surged by 32.15 per cent, equivalent to Dhs158bn, in contrast to some Dhs91.4bn in June 2022.

This momentum extended into the current year with a 17.5 per cent rise since the start of the year, compared to some Dhs552.5bn at the end of December 2022, an increment of Dhs97bn during the year’s first half.

The budget’s allocation delineated on the assets side, which saw Dhs257.2bn apportioned to cash and bank balances for June. Additionally, investments held until maturity were earmarked at Dhs211.32bn, while deposits accounted for Dhs135.34bn.

Loans and advances received an allocation of Dhs4.18bn, and other assets were assigned Dhs41.38bn.

Conversely, on the liabilities and capital side, Dhs284.78bn was allocated for current and deposit accounts. Cash permits and Islamic deposit certificates were assigned some Dhs205.72bn.

Furthermore, Dhs136.48bn was apportioned for issued cash securities and coins, and capital and reserves received Dhs12.73bn, with other liabilities accounting for Dhs9.71bn.

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