Expenditures hit MVR25.9bn, deficit stretches to MVR9.7bn

According to the latest reports from Ministry of Finance, the cumulative total of state expenditure has reached MVR25,922.7 million (MVR25.9 billion) by 04 November 2021.

Meanwhile, by the same review period the cumulative total of revenues to state has reached MVR16,174.1 million (MVR16.2 billion).

Expenditure composition confirms 74% of the total state expenses were directed on recurrent needs and the remaining 26% on capital expenses. On the other hand, revenue composition confirms 73% of the earnings to state came from tax sources while the remaining 27% came from non-tax sources.

Moreover, the overall balance for the review period is a deficit of MVR9,748.7 million (MVR9.7 billion) – observing a substantial stretch from the previous review period.

In addition to this, the cumulative total of tax revenues as of 04 November reached MVR11,816.8 million (MVR11.8 billion) while the cumulative total of non-tax revenues reached MVR3,834.1 million (MVR3.8 billion).