State expenditure rise to MVR3.98bn, revenue at MVR3.3bn

Maldives state expenditure rises to MVR3,975.5 million (MVR3.98 billion) on cumulative terms as of 11 March 2021.

Moreover, state’s revenue inclusive of grants for the review period stood at MVR3,268.0 million (MVR3.3 billion).

Expenditure composition as of review period shows 76% of total spend towards recurrent expenses and remaining 24% towards capital expenses.

On the other hand, revenue composition reveals 87% of income from tax-sources and remaining 13% from non-tax sources.

The overall balance for the period gives a deficit of MVR707.5 million.

Meanwhile, net issuance for the review week stood at MVR125.4 million. In the meantime MVR6.2 million worth of securities matured.