State revenues observe over 120% increase in September 2021

Minister of Finance Ibrahim Ameer

Ministry of Finance in their latest Monthly Fiscal Developments confirm an increase of 122.5% in revenues and grants earned and received to the state in September 2021.

Moreover, the government body attests that state revenues inclusive of grants in the review month reached MVR2,337.4 million (MVR2.3 billion). A significant proportion of the increase is due to a MVR687.7 million increment in non-tax revenues.

Meanwhile, total expenditure in September 2021 observed an increment of 34.1% when compared with the same month in 2020.

Furthermore, capital expenditure observed an increment of 52.1% whereas recurrent expenditure increased by 10.2% in the review month.

The fiscal balance for the month gives an overall primary deficit of MVR506.5 million.