Expenses at MVR9.9bn, revenues at MVR7.6bn

State expenditures reach MVR9.9 billion, revenues inclusive of grants hit MVR7.6 billion; in cumulative terms.

The overall balance for the period is a deficit of MVR2.4 billion.

Revenues

• Tax Revenues: MVR6.03 billion
• Non-Tax Revenues: MVR1.51 billion
• Capital Receipts: MVR1.6 million
• Grants: MVR16.4 million

Top Revenue Streams

1. Tax | TGST: MVR2.4 billion
2. Tax | Corporate Income Tax: MVR834.9 million
3. Tax | GGST: MVR830.2 million
4. Tax | Import Duties: MVR752.8 million
5. Tax | Withholding Tax: MVR298.9 million
6. Tax | Green Tax: MVR229.5 million
7. Non-Tax | Airport Development Fee: MVR219.4 million
8. Tax | Airport Service Charges/Departure Tax: MVR212.8 million
9. Non-Tax | Rent from Resorts: MVR187.3 million
10. Non-Tax | Registration and License Fees: MVR168.5 million

Expenditures

• Recurrent: MVR6.55 billion
• Capital: MVR3.4 billion

Recurrent – Salaries and Pensions

• Allowance to Employees: MVR857.8 million
• Salaries and Wages: MVR849.5 million
• Pensions: MVR318.9 million
• Retirement Benefits and Gratuities: MVR120.6 million

Recurrent – Administrative and Operational Expenses

• Subsidies: MVR997.4 million
• Financing and Interest Costs: MVR892.8 million
• Aasandha (state-initiated insurance scheme): MVR624.5 million
• Administrative Services: MVR469.3 million
• Council Grants: MVR458.1 million
• Operational Consumables: MVR305.5 million
• Administrative Supplies: MVR116.8 million
• Training Expenses: MVR73.3 million
• Repairs and Maintenance: MVR59.8 million
• Travel Expenses: MVR45.7 million

Capital – Equipment

• Furniture, machinery and equipment: MVR56.9 million
• Vehicles: MVR2.6 million
• Minor extensions: MVR0.1 million

Capital – Infrastructure Assets

• Land and Buildings: MVR898.4 million
• Roads, Bridges, and Airports: MVR803.8 million
• Wharves, Ports, and Harbors: MVR309.9 million

Capital – Development Projects and Investment Outlays

• Investment Outlays: MVR352.5 million
• Development Projects: MVR0.8 million

Capital – Lending

• Domestic Lending: MVR406.1 million
• Foreign Lending: NIL

The government has spent MVR788.9 million in repaying its loans. Transfers to Sovereign Development Fund (SDF) during the week stood at MVR220.7 million. The state has spent MVR2.56 billion under the Public Sector Investment Program (PSIP).