Oil price spurs return to surplus for UAE - The National

The UAE reached a fiscal surplus last year for the first time in three years, despite a bigger than expected spending increase in Abu Dhabi.

Surpluses reached Dh38.6 billion (US$10.5bn), or 2.9 per cent of GDP within the consolidated budget, which includes spending and revenues for all the emirates and the federal Government, according to an IMF report.

Higher oil prices and increased production helped revenues to rise 41 per cent to Dh440bn.

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