According to the latest update from Ministry of Finance, the cumulative total of state expenditure has reached MVR14,047.3 million (MVR14.0 billion) as of 26th May 2022.
On the other hand, the cumulative total of state revenues inclusive of foreign grants reached MVR11,136.3 million (MVR11.1 billion).
Moreover, state has spent 75% of its budget on recurrent expenses and the remaining 25% on capital expenses. Meanwhile, state earned 71% of its revenues from tax sources and the remaining 29% from non tax sources.
The overall balance for the period is a deficit of MVR2,911.0 million (MVR2.9 billion) owing to stronger spending against slower earnings.
The cumulative total of tax revenues as of the review date stood at MVR7,928.7 million (MVR7.9 billion) while the cumulative total of non tax revenues by the same review date reached MVR3,157.3 million (MVR3.2 billion).
State has spent a total of MVR10,585.6 million (MVR10.6 billion) on recurrent expenditure, and a total of MVR3,461.6 million (MVR3.5 billion) on capital expenditure.