The cumulative total of state revenue as of 05th August 2021 reached MVR15,827.5 million (MVR15.8 billion), as per the latest updates from Ministry of Finance.
Moreover, the state body reported in their Weekly Fiscal Development that the revenue inclusive of grants have shown improvement which now stood at a cumulative total of MVR10,597.0 million (MVR10.6 billion).
As for the expenditure composition, 77% of the total had been towards recurrent expenses while the remaining had been towards capital expenses.
On the other hand, the revenue composition shows 74% of the total had come through tax-sources, which always remain as the major income contributor to the state whereas 26% from the total revenue had come from non-tax sources.
While state expenditure continues to remain greater than the revenue earned, the overall balance for the period is a deficit of MVR5,230.5 million (MVR5.2 billion).
Meanwhile, net issuance for the week 01st to 05th August had been a deficit of MVR206.8 million while government securities worth MVR3,328.3 million (MVR3.3 billion) matured and securities worth MVR3,121.5 million (MVR3.1 billion) were issued.
Furthermore the cumulative total of tax revenues as of the review period reached MVR7,818.5 million (MVR7.8 billion), marking a 16.7% increment from the corresponding period of 2020 where it stood at MVR6,613.9 million (MVR6.6 billion).
Additionally, the cumulative total of non-tax revenue as of 05th August stood at MVR2,423.7 million (MVR2.4 billion), which is a 9.1% improvement from the same period last year which was at MVR2,212.3 million (MVR2.2 billion).
So far Maldives state had settled a total of MVR640.2 million in loan repayment, while the Sovereign Development Fund (SDF) is worth MVR3,471.2 million (MVR3.5 billion) whereas the SDF bank balance is currently at MVR823.0 million.