State expenditure at MVR2.1bn, deficit at MVR1.4bn in Nov 2020

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The state expenditure stood at MVR2,110.3 million (MVR2.1 billion) in November 2020, reports Ministry of Finance.

Moreover, the ministry reports revenue and grants for review month stood at MVR748.1 million, marking a 50.2% drop from corresponding month of 2019.

Decline in tax receipts from Goods and Services Tax (GST) remains a contributory factor towards the relative drop in revenues.

Meanwhile, total expenditure saw a drop of 25.7% from corresponding month of 2019.

Capital expenditure in review month saw a dip of 58.0% in comparison with same month of 2019.

Furthermore the decline is resultant of an MVR469.5 million decrease in Infrastructure Assets.

On the other hand, recurrent expenditure saw a drop of 7.6% in review month.

This decline comes due to the drop in Administrative and Operational Expenses of the state.

The fiscal balance for the month of November 2020 gives an overall deficit of MVR1,362.2 million (MVR1.4 billion).

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