State expenditure hit MVR1.5bn by 2021 fourth week

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The state expenditure stood at MVR1,455.1 million (MVR1.5 billion) by fourth week of 2021, reports Ministry of Finance.

Moreover, the ministry notes state revenue by review period stood at MVR1,453.6 million (MVR1.5 billion).

Expense composition shows 76% of total spending towards recurrent and remaining 24% on capital.

On the other hand, revenue composition reveals 89% from tax sources and just 11% from non-tax sources.

Meanwhile, gap between state expenditure and revenue narrowed which becomes reflective of weekly deficit.

As such the overall balance for the period is a deficit of just MVR1.5 million.

Furthermore, state reports no net issuances for the review week while no securities matured.

Moreover, cumulative tax revenue total by review week stood at MVR1,286.5 million (MVR1.3 billion).

On the other hand, cumulative non-tax revenue total hit MVR163.7 million.

Furthermore, cumulative recurrent expenditure total stood at MVR1,109.1 million (MVR1.1 billion).

Whereas, cumulative capital expenditure total hit just MVR346.0 million.

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