State expenditure hit MVR15.2b, revenue trails at MVR7.9b

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The cumulative total of state expenditure as of 13 August 2020 stood at MVR15,210.9 million (MVR15.2 billion).

Moreover, the revenue to state remained sluggish at MVR7,968.0 million (MVR7.9 billion).

Ministry of Finance in their Weekly Fiscal Development reveals the latest update in state expense and earnings.

Furthermore the expense composition show 69% spent on recurrent expenditure and remaining 31% on capital expenditure.

On the other hand, revenue composition shows 81% of earnings from tax revenue and the remaining 19% from non-tax revenues.

Overall balance for the period is a deficit of MVR7,242.9 million (MVR7.2 billion).

According to the ministry’s recent updates, the cumulative total of tax revenue as of 13 August stood at MVR6,487.9 million (MVR6.5 billion).

Additionally, the cumulative total of non-tax revenue for the review period stood at MVR1,446.9 million (MVR1.4 billion).

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