The latest central bank statistics revealed that the UAE Central Bank‘s (CBUAE) budget increased on an annual basis by about 33.2 percent in October.
CBUAE stated that its balance increased to AED647.65 billion compared to about AED486.17 billion by the end of October 2022. Hence, this increase is equivalent to AED161.5 billion over 12 months.
Budget performance
CBUAE’s balance sheet also increased during the first ten months of this year by 17.2 percent. That is the equivalent of AED95.1 billion compared to about AED552.55 billion at the end of December 2022.
On a monthly basis, CBUAE’s balance sheet increased by 1.3 percent. This percentage equates to an increase of about AED8.1 billion compared to the value of AED639.57 billion in September 2023.
This year, April 2023 stood out, where its budget increased on a monthly basis by a staggering 6.3 percent. Therefore, the budget reached AED631.63 billion in April. Meanwhile, in February 2022, the budget recorded AED594.12 billion.
CBUAE’s balance sheet increased on an annual basis by 24 percent, or the equivalent of AED121.8 billion. Meanwhile, in April 2022, the budget recorded about AED509.81 billion. That is an increase of about 13.8 percent in April since the beginning of this year compared to the AED554.99 billion recorded in December 2022.
Read: UAE President issues new law to establish Accountability Authority
CBUAE’s budget distribution
According to CBUAE’s statistics, the central bank’s balance sheet in terms of October’s assets was distributed as follows:
- AED283.9 billion in total cash and balances
- AED206.66 billion in investments
- AED111.93 billion in deposits
- AED2.29 billion for loans and advances
- AED42.87 billion for other assets
Meanwhile, CBUAE’s balance sheet was distributed in terms of liabilities and capital, amounting to AED286.03 billion for current and deposit balances. AED219.74 billion was allocated to cash permits and Islamic certificates of deposit. Moreover, AED129.26 billion was allocated to issue notes and coins. CBUAE also allocated AED11.68 billion to capital and reserves and AED9.94 billion to other liabilities.
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