The state revenues and grants stood at MVR4,054.1 million (MVR4.05 billion) in January 2023, which is a 41.8% increment compared to January last year.
On the other hand, the total expenditure for January 2023 decreased by 16.6% compared to the same month in 2022. Capital expenditure dropped by 40.6% while recurrent expenditure decreased by 5.7% in the review month.
The fiscal balance for the month is an overall surplus of MVR603.4 million.
- Administrative and Operational Expenses: 50.5% | MVR1,741.0 million
- Salaries, wages, and pensions: 27.3% | MVR940.7 million
- Infrastructure Assets: 18.3% | MVR374.3 million
The recurrent expenditure in January 2023 stood at MVR2,682.2 million (MVR2.7 billion), while the capital expenditure for the review month stood at MVR768.5 million.
- TGST: 30.2% | MVR1,223.8 million
- BPT: 18.3% | MVR740.3 million
- GGST: 9.8% | MVR397.5 million
- Import Duties: 7.4% | MVR298.9 million
- Interest, profit, and dividends: 4.2% | MVR168.4 million
The total tax revenues in the review month stood at MVR3,430.1 million (MVR3.4 billion) and the total non-tax revenues stood at MVR616.1 million. The Maldives government received MVR6.8 million in grants in the review month.
- Loan repayment: MVR446.4 million
- Other investments: MVR25.0 million
- Transfers to Sovereign Development Fund (SDF): MVR89.6 million