The Ministry of Finance revealed that the state revenues inclusive of grants increased by 2.7% in November 2022 when compared with the same month in 2021.
The ministry further confirmed that the government collected MVR1.85 billion in revenues, including grants.
The total expenditure for the review month decreased by 14.2% when compared with November 2021. Compared to the same month in 2021, capital expenditure decreased by 43.2% while recurrent expenditure dropped only by 0.9%.
The fiscal balance for the review month is an overall deficit of MVR759.9 million.
Expenditure
- Approved Total: MVR40.7 billion
- Cumulative: MVR34.3 billion
- Recurrent: MVR2.1 billion
- Capital: MVR540.3 million
Expenditure Composition
- Administrative and Operational Expenses: 43.3%
- Salaries, Wages, and Pensions of Public Sector Employees: 35.9%
- Infrastructure Assets: 15.5%
- Capital Equipment: 2.8%
- Development Projects and Investment Outlays: 1.6%
- Lending: 0.9%
Revenue and Grants
- Approved Total: MVR32.1 billion
- Cumulative: MVR24.6 billion
- Tax Revenues: MVR1.35 billion
- Non-tax Revenues: MVR487.0 million
- Grants: MVR14.9 million
Revenue and Grants Composition
- TGST: 27.5%
- Other fees and charges: 19.4%
- Import Duties: 16.8%
- GGST: 14.8%
- GRT: 4.1%
- ADF: 4.0%
- ASC: 3.9%
- NRWHT: 3.1%
- Other taxes: 1.6%
- Others: 1.5%
- Property Income: 1.4%
- BPT: 1.1%
Memorandum Items
- Loan Repayment: MVR94.3 million
- Other Investments: MVR25.0 million
- Transfers to Sovereign Development Fund (SDF): MVR74.1 million