{"id":11083,"date":"2024-11-04T17:34:39","date_gmt":"2024-11-04T12:34:39","guid":{"rendered":"https:\/\/mbt.mv\/?p=11083"},"modified":"2024-11-04T17:34:39","modified_gmt":"2024-11-04T12:34:39","slug":"state-earns-mvr-28-2-bn-spends-mvr-37-7-bn","status":"publish","type":"post","link":"https:\/\/mbt.mv\/?p=11083","title":{"rendered":"State earns MVR 28.2 Bn, spends MVR 37.7 Bn"},"content":{"rendered":"

The Maldives government has earned a cumulative total of MVR 28.2 billion revenues, inclusive of grants as of October 24, 2024, according to the Ministry of Finance.<\/p>\n

For the same review date, the government has spent a cumulative total of MVR 37.7 billion. With that, the overall balance for the period is a deficit of MVR 9.5 billion.<\/p>\n

The cumulative total of tax revenues as of the review date is MVR 21.5 billion. In the corresponding period last year, cumulative total of tax revenues reached MVR 19.7 billion. The cumulative total of non-tax revenues as of October 24 stood at MVR 6.2 billion; in the same period last year the cumulative total of non-tax revenues stood at MVR 7.09 billion.<\/p>\n

Top Revenue Categories<\/h3>\n
    \n
  1. GST:<\/strong> MVR 11.3 billion<\/li>\n
  2. Business and Property Tax:<\/strong> MVR 5.7 billion<\/li>\n
  3. Import Duties:<\/strong> MVR 2.6 billion<\/li>\n
  4. Fees and Charges:<\/strong> MVR 2.15 billion<\/li>\n
  5. Property Income:<\/strong> MVR 1.85 billion<\/li>\n<\/ol>\n

    As of the review date, the Maldives received MVR 561.3 million in grants.<\/p>\n

    As for expenditure, the government has spent MVR 27.2 billion on recurrent expenses as of the review date, and another MVR 10.5 billion on capital expenses.<\/p>\n

    While recurrent expenditure observed increment compared to the same period last year, capital expenditure has seen decline. In the same period last year, recurrent expenditure stood at MVR 25.1 billion whereas capital expenditure stood at MVR 11.9 billion.<\/p>\n

    Out of the budgeted total of MVR 2.2 billion earmarked for loan repayment, the government has spent MVR 2.02 billion.