State expenditure hit over MVR35bn by end of 2020

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The Maldives state expenditure as of 31 December 2020 stood at MVR35,966.4 million (MVR35.9 billion), reports Ministry of Finance.

Moreover, the state revenue for the year ended stood at MVR14,519.7 million (MVR14.5 billion) – as of the final week of previous year.

Cumulatively speaking, state expenditure composition shows 71% of the total spent towards recurrent expenses and 29% of the remaining on capital.

On the other hand, 74% of total revenues came from tax sources while 26% came from non-tax sources.

Ministry of National Planning and Infrastructure shows the highest un-utilization of budget allocation as of 2020 end.

Meanwhile, highest budget utilization came reflected from Ministry of Education.

Overall balance for review period stood at a deficit of MVR12,818.2 million.

Moreover, Ministry of Finance reports no net issuance for the week.

Cumulative total of tax revenues stood at MVR10,684.7 million whereas non-tax total stood at MVR3,154.1 million.

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