The government expenditure in cumulative terms has reached MVR 386.1 million, reported the Ministry of Finance.
Recurrent expenditure is at MVR295.6 million, and capital expenditure is at MVR90.5 million.
Under recurrent expenditure, the state has already spent MVR292.2 million on administrative and operational expenses, and only MVR3.4 million on salaries, wages, and pensions of public sector employees.
Meanwhile, under capital expenditure, the Maldives government has spent MVR59.9 million on infrastructure assets and another MVR29.3 million on land and buildings.
The state revenues, on the other hand, have reached just MVR61.9 million by 05th January 2023. The overall balance for the period is a deficit of MVR324.3 million owing to higher spending compared to revenues earned.
The cumulative total of tax revenues is currently at MVR23.1 million, while the cumulative total of non-tax revenues is slightly higher at MVR38.6 million. The state so far 2023, has not received any grants.
Memorandum Items:
- Loan Repayment: MVR278.4 million
- Transfers to Sovereign Development Fund (SDF): MVR8.3 million
- SDF Fund Size: MVR6.4 billion
- SDF Bank Balance: MVR1.86 billion
- Public Sector Investment Program (PSIP): MVR89.3 million