Expenditures reach MVR22.6bn, revenues hit MVR14.97bn

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Minister of Finance at Parliamentary Finance Committee meeting | Photo: People’s Majlis

The latest statistics from Ministry of Finance has confirmed that the cumulative total of state expenditure as of 07th October has reached MVR22,606.3 million (MVR22.6 billion).

Moreover, the cumulative total of state revenues inclusive of grants have reached MVR14,971.9 million (MVR14.97 billion) by the review period.

According to the statistics, the expense composition confirms 77% of the total was spent on recurrent expenditures while the remaining 23% on capital expenditures. On the other hand, revenue composition confirms 73% of the total earnings to the state were generated from tax sources and the remaining 27% from non-tax sources.

Meanwhile, the overall balance for the period is a deficit of MVR7,634.4 million (MVR7.6 billion) which had once again gone up compared to the previous week.

Furthermore, the cumulative total of tax revenues as of the review week reached MVR10,917.9 million (MVR10.92 billion) and the non-tax revenues cumulative total hit MVR3,567.1 million (MVR3.6 billion).

On the other hand, the cumulative total of recurrent expenditure has reached MVR17,412.4 million (MVR17.4 billion) while the cumulative total of capital expenditure has reached MVR5,193.6 million (MVR5.2 billion).

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