State expenditure reached MVR24.6 billion as of 01st September 2022, reports Ministry of Finance.
Meanwhile, the state revenue inclusive of foreign grants reached MVR18.7 billion.
So far, 73% of the budget was spent on recurrent needs while the remaining 27% was spent on capital expenditure. On the other hand, 74% of the earnings came from tax sources while 26% came from non-tax sources.
The overall balance for the period is a deficit of MVR5.85 billion.
The cumulative total tax revenue is currently at MVR13.8 billion, while non-tax cumulative total is at MVR4.8 billion. Capital receipts are currently at just MVR11.8 billion while foreign grants amount to MVR247.2 million.
On the other hand, recurrent expenditure is at MVR17.9 billion; MVR10.6 billion is spent on administrative and operational expenses while MVR7.3 billion is spent on salaries, wages and pensions of public sector employees.