State expenditure hit MVR11.3bn, deficit at MVR3.5bn

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

As per the latest statistical updates from Ministry of Finance, the state has spent MVR11,338.3 million (MVR11.3 billion) as cumulative expenditure.

On the other hand, the cumulative total of revenues inclusive of grants stood at just MVR7,879.7 million (MVR7.9 billion).

According to the latest Weekly Fiscal Development report, 76% of the total expenditure had been recurrent and remaining 24% directed on capital expenses.

Meanwhile, 78% of the total revenue came through tax sources while the remaining 22% came from non-tax sources.

The overall balance for the period was a deficit of MVR3,458.6 million (MVR3.5 billion).

Additionally, the cumulative total of tax revenue as of 03 June stood at MVR6,173.7 million (MVR6.2 billion). Furthermore, the cumulative total of non-tax in the review period reached MVR1,631.2 million (MVR1.6 billion).

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