The cumulative total of state expenditure reaches MVR18,149.0 million (MVR18.1 billion) as of 26th August 2021.
Moreover, according to Ministry of Finance the cumulative total of state revenue by the same review period reached MVR11,268.0 million (MVR11.3 billion).
As of 26th August, the expenditure composition showed that 78% of the total had been spent towards recurrent needs of the state and the remaining 22% on capital expenditure. On the other hand, revenue composition confirms that 74% of the total had been earned to state by tax sources and the remaining 26% through non-tax sources.
Meanwhile, the overall balance for the period is a deficit of MVR6,881.0 million (MVR6.9 billion).
So far the Maldives state has collected MVR8,303.6 million (MVR8.3 billion) in tax revenues, exclusive to the 2021 fiscal year. Furthermore, the cumulative non-tax revenue has reached MVR2,573.9 million (MVR2.6 billion).
Both revenue categories have shown improvement in comparison with the corresponding period in 2020, where the cumulative total of tax-revenues stood at MVR7,477.9 million (MVR7.5 billion) and cumulative total of non-tax revenues stood at MVR2,528.5 million (MVR2.5 billion).
Furthermore, the cumulative recurrent expenditure as of the review period stood at MVR14,199.5 million (MVR14.2 billion) while the cumulative total of capital expenditure stood at MVR3,949.5 million (MVR3.9 billion).