AED60 bn of labour compensations in nine months

ABU DHABI, Labour compensations in the UAE rose to circa AED60 bn during the first nine months of 2018, a growth of 9.5 percent from AED54.8 bn during the corresponding period of 2017, according to Ministry of Finance’s statistics.

These include the salaries and wages of employees and their benefits in cash and in kind.

The growth reflects the good living standing enjoyed by UAE citizens and residents alike and the level of social welfare that earned the country a prestigious international status across international financial indicators that measure welfare standards globally.

The UAE has been rated number one globally in 50 indices covering vital community and service sectors, according to the Global Competitiveness Index 2017-2018.

The UAE led in the region and the world in various indices, including the quality of government decisions, the government’s ability to adapt to changes, the effectiveness of government spending, and investment attractiveness as well as the education sector. They also included public-private partnerships, development and application of technology, the quality of tourism infrastructure, corporate digitalisation, gender equity, tolerance with foreigners.

According to the MoF figures, labour compensations picked up from AED19.322 bn during Q1 2018 to AED20.00 bn in Q2. In Q3 they rose to AED20.62 bn, a growth of 3.1 percent over the preceding quarter.

During the first nine months of 2018, the labour compensations accounted for 21.7 percent of the consolidated government spending, which includes federal and local government expenditure.

Source: Emirates News Agency

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