The state expenditure has observed a slow-down whereas the revenues have observed noticeable increment.
According to the Ministry of Finance, the cumulative total of state expenditure has reached MVR 23,963.0 million (MVR 23.9 billion) as of July 20, 2023 while the cumulative total of state revenues inclusive of foreign grants reached MVR 18,567.7 million (MVR 18.6 billion) by the review date.
A week earlier, the state expenditure stood at MVR 23,587.2 million (MVR 23.6 billion) while the revenues stood at MVR 16,967.0 million (MVR 16.9 billion).
While the government expenditure increased only by MVR 300 million approximately, revenues saw an increase of MVR 1.7 billion within a week.
With this noticeable increment in the state revenues, the budget deficit has decreased from MVR 6.6 billion in the preceding week to MVR 5.4 billion in the review week.
As of July 20, the cumulative total of tax revenues reached MVR 13.9 billion while the non-tax revenues reached MVR 4.4 billion. Grants received to the state has reached MVR 257.3 million.
The recurrent expenditure has reached MVR 16.1 billion while the capital expenditure has reached MVR 7.8 billion.