State revenues reach MVR14.8bn, deficit hit MVR5.3bn


Photo: Awshan Ilyas | Mihaaru

State expenditure in cumulative terms reach MVR20,070.7 million (MVR20.07 billion) as of July 21, 2022.

On the other hand, revenues inclusive of foreign grants reach a cumulative total of MVR14,811.4 million (MVR14.8 billion).

Government has used 76% of its budgetary total for the year on recurrent expenses and 24% on capital expenses. State earned 74% of its revenues from tax sources and 26% from non-tax sources.

Owing to higher expenses against revenues earned, the overall balance for the period is a deficit of MVR5,259.3 million (MVR5.3 billion).

The cumulative total of tax revenues by the review date is MVR10,959.4 million (MVR10.96 billion) and the cumulative total of non-tax revenues as of July 21 stood at MVR3,771.8 million (MVR3.8 billion).

Moreover, the cumulative total of recurrent expenses reach MVR15,299.0 million (MVR15.3 billion) and the cumulative total of capital expenses hit MVR4,771.7 million (MVR4.8 billion).