The year-to-date total of government expenditure reached MVR12.8 billion as of 13th April 2023, reported the Ministry of Finance.
According to the ministry, the cumulative total of revenues by the same review date reached MVR9.8 billion; 75% of the revenues collected to the state came from tax-sources.
The overall balance for the period is a deficit of MVR2.98 billion.
The year-to-date tax-revenue total by the review date stood at MVR7.3 billion, which is an approximate 1.5 billion improvement from the corresponding period in 2022; during which tax-revenues stood at 5.8 billion. Non-tax revenue total as of 13th April stood at MVR2.4 billion, which was roughly an MVR400 million increase from the same period last year.
The recurrent expenditure total is MVR8.8 billion by the review date; highest spent on administrative and operational expenses under this, at MVR5.7 billion. Capital expenditure stood at MVR3.9 billion; highest spending under this on Infrastructure Assets, at MVR1.9 billion.
Memorandum Items
- Loan Repayment: MVR816.9 million
- Transfers to Sovereign Development Fund (SDF): MVR287.6 million
- Public Sector Investment Program: MVR3.02 billion