The total revenue (excluding grants) observed an increase of MVR605.6 million, a 33% increment, in February 2023 when compared with the same month last year.
This increment was mostly driven by the growth in non-tax revenue. As such, non-tax revenue rose by MVR345.8 million, while tax revenue rose by MVR260.8 million.
Total expenditure (excluding amortization) rose by MVR152.7 million, a 5% increment, in February 2023 compared with the corresponding month in 2022. This increment was owed to the growth in recurrent expenditure, which increased by MVR194.6 million, while capital expenditure declined by MVR41.9 million.
The stock of total government debt, excluding government government guaranteed debt, amounted to MVR91.5 million billion at the end of Q4-2022, a 4% increase from Q3-2022.
Meanwhile, total government debt as a percentage of GDP rose to 96% at the end of Q4-2022 from 92% in Q3-2022. During this period, the increase in government debt was primarily driven by domestic debt.