{"id":2560,"date":"2021-12-12T12:06:15","date_gmt":"2021-12-12T07:06:15","guid":{"rendered":"https:\/\/mbt.mv\/?p=2560"},"modified":"2021-12-12T12:06:15","modified_gmt":"2021-12-12T07:06:15","slug":"state-expenditures-reach-mvr29-9bn-revenues-bump-to-mvr18-0bn","status":"publish","type":"post","link":"https:\/\/mbt.mv\/?p=2560","title":{"rendered":"State expenditures reach MVR29.9bn, revenues bump to MVR18.0bn"},"content":{"rendered":"<p>According to the latest updates from Ministry of Finance the cumulative total of state expenditures as of 01st December has reached MVR29,941.3 million (MVR29.9 billion).<\/p>\n<p>Meanwhile, the year-to-date total of the state revenues as of the review period reached MVR18,033.4 million (MVR18.0 billion).<\/p>\n<p>Furthermore, expenditure composition confirms 71% of the total have been spent on recurrent needs and the remaining 29% on capital expenses. On the other hand, revenue composition confirms 72% of the total earnings coming from tax sources and the remaining 28% coming from non-tax sources.<\/p>\n<p>Moreover tax sources such as Tourism Goods and Services Tax (TGST), General Goods and Services Tax (GGST) and Business Profit Tax (BPT) are among the strongest sources of revenue to the government.<\/p>\n<p>During the review period, the overall balance is a deficit of MVR11,907.9 million (MVR11.9 billion) owing to comparatively higher expenditures than revenues earned.<\/p>\n<p>The cumulative total of tax revenues as of 01st December reached MVR12,938.2 million (MVR12.9 billion) while the cumulative total of non-tax revenues by the review period hit MVR4,203.9 million (MVR4.2 billion).<\/p>\n<p>So far Maldives government has received a total of MVR886.1 million in grants.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to the latest updates from Ministry of Finance the cumulative total of state expenditures as of 01st December has reached MVR29,941.3 million (MVR29.9 billion). Meanwhile, the year-to-date total of the state revenues as of the review period reached MVR18,033.4 million (MVR18.0 billion). Furthermore, expenditure composition confirms 71% of the total have been spent on<\/p>\n","protected":false},"author":4,"featured_media":2561,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2424,2428],"tags":[295,1301,1603,1727,1773,1976,1981,2038],"class_list":{"0":"post-2560","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-finance","8":"category-public-sector","9":"tag-capital-expenditure","10":"tag-maldives-government","11":"tag-non-tax-revenue","12":"tag-public-finance","13":"tag-recurrent-expenditure","14":"tag-state-expenditure","15":"tag-state-revenue","16":"tag-tax-revenue"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>State expenditures reach MVR29.9bn, revenues bump to MVR18.0bn - Maldives Business Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mbt.mv\/?p=2560\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"State expenditures reach MVR29.9bn, revenues bump to MVR18.0bn - Maldives Business Times\" \/>\n<meta property=\"og:description\" content=\"According to the latest updates from Ministry of Finance the cumulative total of state expenditures as of 01st December has reached MVR29,941.3 million (MVR29.9 billion). Meanwhile, the year-to-date total of the state revenues as of the review period reached MVR18,033.4 million (MVR18.0 billion). Furthermore, expenditure composition confirms 71% of the total have been spent on\" \/>\n<meta property=\"og:url\" content=\"https:\/\/mbt.mv\/?p=2560\" \/>\n<meta property=\"og:site_name\" content=\"Maldives Business Times\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/mvbiztimes\" \/>\n<meta property=\"article:published_time\" content=\"2021-12-12T07:06:15+00:00\" \/>\n<meta name=\"author\" content=\"Mohamed Reehaan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@mvbiztimes\" \/>\n<meta name=\"twitter:site\" content=\"@mvbiztimes\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mohamed Reehaan\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/mbt.mv\/?p=2560#article\",\"isPartOf\":{\"@id\":\"https:\/\/mbt.mv\/?p=2560\"},\"author\":{\"name\":\"Mohamed Reehaan\",\"@id\":\"https:\/\/mbt.mv\/#\/schema\/person\/a0eedc1134716e7c8e4da095494670c2\"},\"headline\":\"State expenditures reach MVR29.9bn, revenues bump to MVR18.0bn\",\"datePublished\":\"2021-12-12T07:06:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/mbt.mv\/?p=2560\"},\"wordCount\":193,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/mbt.mv\/#organization\"},\"image\":{\"@id\":\"https:\/\/mbt.mv\/?p=2560#primaryimage\"},\"thumbnailUrl\":\"\",\"keywords\":[\"Capital Expenditure\",\"Maldives Government\",\"Non Tax Revenue\",\"Public Finance\",\"Recurrent Expenditure\",\"State Expenditure\",\"State Revenue\",\"Tax Revenue\"],\"articleSection\":[\"FINANCE\",\"PUBLIC SECTOR\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/mbt.mv\/?p=2560#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/mbt.mv\/?p=2560\",\"url\":\"https:\/\/mbt.mv\/?p=2560\",\"name\":\"State expenditures reach MVR29.9bn, revenues bump to MVR18.0bn - 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