The cumulative total of state expenditure has reached MVR 524.0 million as of January 11, 2024, reported the Ministry of Finance.
As per the ministry’s most recent Weekly Fiscal Development, the revenues inclusive of grants stood at MVR 390.3 million at the review date’s time.
Which means the overall balance for the period is MVR 133.7 million, a 31.1% drop from the same period in 2023.
The state generated MVR 275.5 million out of the current cumulative total in tax revenues, and MVR 114.8 million in non-tax revenues. The cumulative total of tax revenues in 2023 for the same period stood at MVR 306.8 million, and non-tax stood at MVR 162.8 million.
State expenditure is currently at MVR 392.2 million, which is a notable drop from MVR 518.6 million spent by the same period in 2023.