The cumulative total of state expenditures reached MVR 27.7 billion as of August 17, 2023, reports the Ministry of Finance.
According to the ministry’s statistics the cumulative state revenues reached MVR 21.3 billion as of the review date. The overall balance for the period is a deficit of MVR 6.3 billion.
Tax revenues have reached a year-to-date total of MVR 16.4 billion while non-tax revenues reached MVR 4.7 billion. For the same period in 2022, tax revenues reached MVR 13.2 billion while non-tax revenues stood at MVR 4.8 billion.
Government projects a total of MVR 2.5 billion in grants for 2023, but have received only MVR 264.1 million so far.
The recurrent expenditure total so far in 2023 reached MVR 19.1 billion, and capital expenditure reached MVR 8.6 billion.
State has paid MVR 1.6 billion in loan repayments, and transferred MVR 552.3 million to the Sovereign Development Fund (SDF). Public Sector Investment Program (PSIP) total has reached MVR 7.3 billion by the review date.