The state expenditure in year-to-date basis has reached a total of MVR 19.9 billion as of 15th June 2023.
On the other hand, state revenues inclusive of grants in cumulative terms reached MVR 14.7 billion by the same review date.
While 68% of the budget was spent on recurrent needs, 32% was spent on capital requirements. As for the revenue, state earned 76% from tax sources and 24% from non-tax sources.
The overall balance for the period is a deficit of MVR 5.2 billion.
As of the review date, the cumulative tax revenue total reached MVR 11.2 billion. In the corresponding period in 2022, the cumulative tax revenue reached a total of MVR 8.9 billion.
On the other hand, the cumulative total of non-tax revenue reached MVR 3.3 billion during the review date, while in the same period last year, it had reached MVR 3.1 billion.
By the review date, state has spent MVR 13.6 billion on recurrent needs and MVR 6.3 billion on capital needs.
