According to the latest update from Ministry of Finance the cumulative total of state expenditures as of 12th May 2022 stood at MVR12,325.0 million (MVR12.3 billion).
On the other hand, state revenues inclusive of grants are currently at MVR10,294.7 million (MVR10.3 billion).
The expenditure composition shows 75% of the total budget has been spent on recurrent expenses and the remaining 25% were spent on capital expenses. Meanwhile, state earned 71% of its revenues from tax sources and the remaining 29% from non tax sources.
Meanwhile, the overall balance for the period gives a deficit of MVR2,030.3 million (MVR2.03 billion).
So far the state has earned MVR7,259.0 million (MVR7.26 billion) tax revenues on a cumulative basis, and MVR3,018.3 million (MVR3.02 billion) in non tax revenues. In addition to this, state has received MVR137.2 million in foreign grants so far.
On the other hand, state has spent a cumulative total of MVR9,278.0 million (MVR9.28 billion) on recurrent expenses out of which it had spent MVR5,664.8 million (MVR5.66 billion) on administrative and operational expenses and another MVR3,609.1 million (MVR3.61 billion) on salaries, wages and pensions of public sector employees.
