State revenues hit MVR12.1bn, deficit idle at MVR6.9bn

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

The cumulative total of state revenue as of 02 September 2021 has reached MVR12,111.9 million (MVR12.1 billion).

According to Ministry of Finance in their latest ‘Weekly Fiscal Developments’ the cumulative total of state expenditure by the review period has reached MVR19,027.1 million (MVR19.0 billion).

Meanwhile, the expenditure composition shows 78% of the total spending focused on recurrent needs and the remaining 22% on capital expenses.

On the other hand, 74% of the total earnings to state came from tax sources with the remaining 26% coming from non-tax sources.

Furthermore, the overall balance during the review period is a deficit of MVR6,915.2 million (MVR6.9 billion) – which is almost idle movement in comparison with the previous week.

The net issuance for the week, from 29 August up to 02 September gives a deficit of MVR122.4 million. Meanwhile, government securities worth MVR,279.5 million (MVR2.8 billion) were issued during the review week while MVR2,401.9 million (MVR2.4 billion) matured.

As of 02 September, the cumulative total of tax revenues have reached MVR8,933.9 million (MVR8.9 billion).

Moreover, the cumulative total of non-tax revenues have reached MVR2,784.8 million (MVR2.8 billion).