State expenditure hit MVR20.8bn, deficit at MVR9.7bn

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The cumulative total expenditure of Maldives government as of 22 October 2020 reaches MVR20,770.2 million (MVR20.8 billion).

Moreover, the cumulative state revenue (inclusive of grants) by the review period stood at MVR11,061.3 million.

As per Ministry of Finance, 69% of total spending are recurrent expenses with remaining 31% on capital expenditure.

On the other hand, state earnings saw 77% come through tax sources with remaining 23% from non-tax sources.

The overall balance for the review period stood at a deficit of MVR9,708.9 million while no net issuance was recorded for the week.

Furthermore cumulative tax revenue as of 22 October stood at MVR8,479.1 million (MVR8.5 billion).

Cumulative non-tax revenue for the review period stood at MVR2,126.8 million (MVR2.1 billion).

Meanwhile, Maldives state reports receiving MVR592.1 million in grants.

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