State expenditure hit MVR2.1bn, balance observe surplus


Maldives state expenditure rose to MVR2,090.7 million (MVR2.1 billion) as of 11 February 2021, the sixth week of current year.

Moreover, Ministry of Finance reports the state revenue inclusive of grants stood at MVR2,247.0 million (MVR2.2 billion).

Expenditure composition shows 74% of total spent on recurrent expenses and remaining 26% on capital.

Meanwhile, revenue composition shows 88% earnings through tax sources and only 12% from non-tax.

The overall fiscal balance for the review period stood at MVR156.3 million.

Furthermore, cumulative total of tax revenue as of 11 February hit MVR1,981.9 million.

On the other hand, cumulative total of non-tax revenue reaches MVR261.5 million.