Deficit hits MVR3.6bn, expenditure at MVR15.3bn


Photo: Awshan Ilyas | Mihaaru

According to Ministry of Finance, the state has spent a total of MVR15.3 billion in government expenses so far in 2022 from the approved budget.

Meanwhile, state earned a cumulative total revenue of MVR11.8 billion by the review date of June 9 inclusive of foreign grants.

State has spent 75% of its budget on recurrent expenses so far while the remaining 25% has been concentrated on capital expenses. On the other hand, state earned 71% of its revenues in tax sources with the remaining 29% from non tax sources.

The comparatively higher expenditure against revenues earned reflected with an expansion of the deficit to MVR3.6 billion.