As per the latest updates from the Ministry of Finance, the state expenditure has reached MVR22,915.9 million (MVR22.9 billion) as of 14th October 2021.
Moreover, the state revenues inclusive of grants observed a slight increment from the previous week reaching a cumulative total of MVR15,180.4 million (MVR15.2 billion).
So far 77% of the government’s expenses have been focused on recurrent needs and 23% on capital expenses. On the other hand, 73% of the revenues came from tax sources and 27% came from non-tax sources.
Meanwhile, the most significant receipts to the state came from tax revenue sources such as Tourism Goods and Services Tax (TGST), General Goods and Services Tax (GGST) as well as Business Profit Tax (BPT).
The overall balance for the review period is a deficit of MVR7,735.5 million (MVR7.7 billion) which had stretched once again compared with the previous week.
Furthermore, the cumulative total of tax revenues as of 14th October reached 11,018.1 million (MVR11.0 billion) while cumulative total of non-tax revenues reached MVR3,671.3 million (MVR3.7 billion).
The government of Maldives has received a total of MVR485.9 million in grants so far in 2021.