According to Ministry of Finance, state’s cumulative earnings so far in 2022 reached MVR25.5 billion, as of 15 December 2022.
On the other hand, state expenditure in annual terms reached MVR36.2 billion by the review date.
The overall balance for the period is a deficit of MVR10.7 billion.
By the review date, the cumulative total of tax revenues reached MVR18.2 billion. By the corresponding period in 2021, the amount had reached MVR13.5 billion, indicating healthier state earnings this year.
Moreover, the cumulative total of non-tax revenues by the review date reached MVR7.1 billion, whereas for the same period last year the amount had reached MVR5.4 billion.
State has spent MVR26.4 billion on recurrent expenses. Out of this total, state spent MVR16.2 billion on administrative and operational expenses, and another MVR10.15 billion on public sector salaries, wages and pensions.
Additionally, state has spent a cumulative total of MVR9.8 billion on capital expenses. Out of this total, state spent MVR6.2 billion on infrastructure assets, with another MVR1.8 billion spent on land and buildings.
Memorandum Items
- Loan Repayment: MVR2.7 billion
- Transfers to Sovereign Development Fund (SDF): MVR768.2 million
- SDF fund size: MVR5.6 billion
- SDF bank balance: MVR553.0 million