The state expenditures in cumulative terms reached MVR11,085.2 million (MVR11.1 billion) as of 30th March 2023.
On the other hand, the state revenues inclusive of grants reached just MVR8,495.2 million (MVR8.5 billion) by the same review date.
The Maldives government has spent 69% of the state budget has been spent on recurrent needs and the remaining 31% on capital expenses.
Meanwhile, the government earned 80% of its revenues from tax sources and the remaining 20% from non-tax sources.
Revenues and Grants
- Tax Revenues: MVR6,762.4 million (MVR6.8 billion)
- Non-tax Revenues: MVR1,715.0 million (MVR1.7 billion)
- Capital Receipts: MVR1.6 million
- Grants: MVR16.5 million
Expenditure
- Recurrent Expenditure: MVR7,633.7 million (MVR7.6 billion)
- Capital Expenditure: MVR3,451.5 million (MVR3.5 billion)
Memorandum Items
- Loan Repayment: MVR788.9 million
- Transfers to Sovereign Development Fund (SDF): MVR278.4 million
- Public Sector Investment Program (PSIP): MVR2,699.5 million (MVR2.7 billion)
- Councils Block Grant Disbursements: MVR459.3 million