State deficit hit MVR8.3b as of 03 September

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Cumulative total of state expenditure hit MVR17,133.5 million (MVR17.1 billion) as of 03 September 2020.

Moreover, Ministry of Finance confirms the cumulative total of state revenue stood at MVR8,813.7 million (MVR8.8 billion) by review period.

Expenditure composition shows 69% of spending towards recurrent expenses and remaining 31% on capital.

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

The overall fiscal balance for the period is a deficit of MVR8,319.9 million (MVR8.3 billion).

Furthermore net issuance for the review week stood at MVR455.0 million.

Meanwhile government made issuance of MVR2,368.7 million (MVR2.4 billion) in Government Securities, while securities worth MVR1,913.7 million (MVR1.9 billion) matured.

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