State revenue observe decline of 31% in Feb 2021

The total state revenue (exclusive of foreign grants) saw a decline of 31% in February 2021, reports Maldives Monetary Authority (MMA).

Moreover, MMA attests the state revenue saw a decline of MVR557.8 million, to be precise, in February 2021 when in comparison with February 2020.

On the other hand, total expenditure saw visible decline for February 2021 as well.

MMA reports total expenditure (excluding amortization) dropped by MVR585.9 million during February 2021.

Furthermore, the decline is directly from the substantial drop in capital expenditure.

Central bank reports capital expenditure fell by MVR502.9 million.

Meanwhile, recurrent expense saw a drop of MVR83.0 million as well.

By Q4-2020 end the stock of government debt, excluding GGD stood at MVR66.6 billion.

Moreover, this is a 4% increase from Q3-2020 as per Maldives central bank.

Similarly, the total government debt as a percentage of the Gross Domestic Product increased to 115% at Q4-2020 end.

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