State expenditure lunge to MVR7.6bn while revenue trails at MVR5.7bn


During a previous parliamentary information session – Minister Ameer discloses state expenditure updates at the meeting | Photo: Avas

The state expenditure of Maldives government as of 22 April 2021 stood at MVR7,574.7 million (MVR7.6 billion).

On the other hand, state revenue inclusive of foreign grants remain sluggish at MVR5,701.7 million (MVR5.7 billion).

Expense composition reveals 75% of the total spent on recurrent expenses and the remaining 25% on capital expenses.

Meanwhile, revenue composition reveals 79% of income made through tax-sources and remaining 21% through non-tax sources.

The overall balance for the period is a deficit of MVR1,873.0 million (MVR1.9 billion).

Additionally, the net issuance for the week 18 to 22 April stood at a deficit of MVR49.2 million.

Cumulative total of tax revenue as of 22 April reaches MVR4,530.2 million (MVR4.5 billion).

On the other hand the cumulative total of non-tax revenue reaches MVR1,110.4 million (MVR1.1 billion) by review week.

So far, Maldives government acknowledges receipt of MVR60.5 million in foreign grants.