The cumulative total of state expenditure reached MVR 26.9 billion as of August 10, reports Ministry of Finance.
State’s revenues inclusive of foreign grants by the same date reached MVR 21.0 billion, indicating a deficit of MVR 5.9 billion.
Expenses of the government include 69% recurrent spending and 31% capital spending. Revenues to the state include 77% tax revenues and 23% non-tax revenues.
State collected MVR 16.1 billion in tax revenues as of the review date, and MVR 4.7 billion in non-tax revenues. Capital receipts of the state stands at just MVR 3 million, while grants currently stand at MVR 264 million. The state projects receipt of MVR 2.5 billion in foreign grants for 2023.
Recurrent expenditure of the state reached MVR 18.6 billion by August 10 while capital expenditure reached MVR 8.4 billion by the same review date.