According to the latest updates from the Ministry of Finance the cumulative total of state expenditures has reached MVR5,002.4 million (MVR5.0 billion).
Meanwhile, the cumulative total of state revenues inclusive of foreign grants reached MVR4,671.8 million as of 03rd March 2022.
The Maldives state has spent 78% of its budget on recurrent expenses and the remaining 22% on capital expenses. On the other hand, the state has earned 84% of its total revenue from tax sources and the remaining 16% from nontax sources.
As of 03rd March, the cumulative total of tax revenues reached MVR3,908.0 million. In 2021 the cumulative total of tax revenues as of the corresponding period reached MVR3,127.0 million.
Furthermore, the cumulative total of nontax revenues as of the review period reached MVR824.4 million while in the same period in 2021 it stood at MVR531.9 million.
Maldives government has received MVR59.6 million so far in foreign grants.
Government spending shows that the state has spent MVR3,924.3 million on recurrent expenses out of which the majority was spent on administrative and operational expenses.
In addition to this, the state has spent MVR1,078.1 million on capital expenses out of which the highest spending was concentrated on acquiring infrastructure assets.
