Cumulative total of state expenditure hits MVR22.56 billion as of 18th August, reports Ministry of Finance.
According to the state body, state earned a cumulative total of MVR17.8 billion in revenues. Revenues to the state are inclusive of foreign grants.
So far, state spent 73% of the budgetary total of recurrent expenses. Remaining 27% of capital expenses. On the other hand, 73% of state’s earnings came from tax sources, remaining 27% from non-tax sources.
The overall balance for the period is a deficit of MVR4.73 billion.
Meanwhile, the cumulative total of tax revenues by review date is MVR13.02 billion. The cumulative total of non-tax revenues by 18th August is MVR4.72 billion. State received a total of MVR234.6 million in foreign grants.
As for state expenses, government spent MVR16.55 billion on recurrent needs. On the other hand, state spent MVR6.01 billion on capital expenses.