State expenditure hit MVR5.9bn, revenue at MVR4.2bn

The cumulative total of state expenditure reach MVR5,904.8 million (MVR5.9 billion) as of 25 March 2021.

Moreover, the state revenue inclusive of grants hit MVR4,151.1 million (MVR4.2 billion) as of review period.

As for expenditure composition, 76% of the total spending is recurrent and 24% is capital expenses.

Furthermore, revenue composition reveals 82% of total income came from tax-sources while only 18% came from non-tax sources.

The overall balance for the period is a deficit of MVR1,753.7 million (MVR1.8 billion).

As for the review period, state does not register any net issuance and no additional securities were issued.

Meanwhile, cumulative total of tax revenue stood at MVR3,398.1 million (MVR3.4 billion).

On the other hand, the cumulative total of non-tax revenue reaches MVR741.9 million. Both revenue components show decline in comparison with same period of 2020.

As of 25 March 2020, cumulative total of tax revenue stood at MVR4,213.6 million (MVR4.2 billion).

Whereas, cumulative total of non-tax revenue at said period stood at MVR926.6 million.