Maldives state expenditure rises to hit MVR19,027.1 million (MVR19.02 billion) as of 02nd September 2021.
Moreover, according to Ministry of Finance the state revenue, inclusive of grants have reached MVR12,111.9 million (MVR12.1 billion) – marking a modest increment from the previous week.
Expenditure composition reveals 78% of the budget has been concentrated towards recurrent expenses and the remaining 22% on capital expenses. On the other hand, state earned 74% of its income through tax-sources and the remaining 26% through non-tax sources.
Meanwhile, the overall balance for the review period is a deficit of MVR6,915.2 million (MVR6.9 billion).
Net issuance for the week, from 29th August until 02nd September was a deficit of MVR122.4 million. Furthermore, government securities worth MVR2,279.5 million (MVR2.3 billion) were issued and MVR2,401.9 million (MVR2.4 billion) worth of securities matured.
So far the cumulative total of tax revenues have reached MVR8,933.9 million (MVR8.9 billion) as of review week.
Moreover, the cumulative total of non-tax revenues by the review week had reached MVR2,784.8 million (MVR2.9 billion). As per the latest updates, Maldives state has received MVR389.7 million in grants, so far.