The cumulative total of state revenues, inclusive of grants reached MVR 4.5 billion as of February 15, 2024, reports the Ministry of Finance.
The cumulative total of state expenditure by the review date is MVR 4.1 billion.
With this, the overall balance for the period is a surplus of MVR 400.1 million; making it one of the lengthiest duration for a budget surplus.
A key reason for the sustained nature of this budget surplus is owed to the current administration’s focus on cost cutting measures.
As such, the recurrent expenditure total in cumulative terms is now at MVR 3.17 billion; which by the same period in 2023 had reached MVR 3.77 billion. Capital expenditure of the state is still below the billion Rufiyaa mark at MVR 905.4 million whereas the figure stood at MVR 2.2 billion in the corresponding period last year.
While the budgeted total for loan repayment for 2024 is MVR 2.2 billion, the state has already paid MVR 529.3 million.
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