State expenditure hit MVR26.8bn, revenue at MVR14.0bn

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Maldives state expenditure hit MVR26,826.1 million (MVR26.8 billion) as of 24 December 2020.

Moreover, Ministry of Finance reports the state revenue as of review period stood at just MVR14,020.0 million (MVR14.0 billion).

According to the ministry, state spent 71% of the total expenditure on recurrent expenses while 29% on capital.

On the other hand, from state earnings 74% came through tax sources while the remaining 26% from non-tax sources.

The overall balance for the period is a deficit of MVR12,806.1 million (MVR12.8 billion).

Furthermore, net issuance for review week stood at MVR175.7 million.

Over the review period the issuance of securities stood at MVR2,751.9 million while MVR2,576.2 million worth of securities matured.

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