The cumulative total of state expenditure as of 23rd September 2021 reached MVR20,718.5 million (MVR20.7 billion), reported Ministry of Finance.
Moreover, the ministry had confirmed in their latest Weekly Fiscal Development that the cumulative total of state revenue reached MVR12,907.7 million (MVR12.9 billion) as of the review period.
According to the state body, the expenditure composition reveals 77% of the total expense were concentrated towards recurrent needs and the remaining 23% towards capital expenses.
On the other hand, revenue composition reveals 73% of the total earnings to the state came from tax sources and the remaining 27% from non-tax sources.
Meanwhile, the overall balance for the period is a deficit of MVR7,810.8 million (MVR7.8 billion) while the net issuance for the week from 19th to 23rd September was a surplus of MVR80.50 million owing to the issuance of Treasury Bills.
Furthermore, the cumulative total of tax revenues as of the review period stood at MVR9,361.2 million (MVR9.4 billion) while the cumulative total of non-tax revenues by the same period stood at MVR3,147.7 million (MVR3.1 billion).
The foreign grants received to the Maldives state as of 23rd September stood at MVR394.4 million.
As for expenses, the cumulative total of recurrent expenditure as of the review week reached MVR15,863.4 million (MVR15.9 billion) and the cumulative total of capital expenditure reached MVR4,855.1 million (MVR4.9 billion).