{"id":2673,"date":"2022-01-02T11:03:31","date_gmt":"2022-01-02T06:03:31","guid":{"rendered":"https:\/\/mbt.mv\/?p=2673"},"modified":"2022-01-02T11:03:31","modified_gmt":"2022-01-02T06:03:31","slug":"state-spends-over-95-of-expenses-as-of-23-december-2021","status":"publish","type":"post","link":"https:\/\/mbt.mv\/?p=2673","title":{"rendered":"State spends over 95% of expenses as of 23 December 2021"},"content":{"rendered":"<p>According to the latest fiscal developments from Ministry of Finance, Maldives government has spent a total MVR32,024.9 million (MVR32.0 billion) as of 23rd December 2021.<\/p>\n<p>Moreover, the approved expenditure for the fiscal year of 2021 was MVR33,431.5 million (MVR33.4 billion). As of 23rd December, state had spent 95.79% of the approved expense budget.<\/p>\n<p>On the other hand, state has earned a total of MVR19,009.3 million (MVR19.0 billion) as of review week. The projected revenue inclusive of foreign grants for the year 2021 is MVR21,128.5 million (MVR21.1 billion). As of 23rd December, state had earned 89.97% of the projected revenue.<\/p>\n<p>Meanwhile, state has spent 70% of its total expense budget on recurrent expenditures and the remaining 30% on capital expenses and 70% of state&#8217;s total earning came through tax sources while the other 30% came from non-tax sources.<\/p>\n<p>As for budget utilization, Ministry of National Planning, Housing and Infrastructure has spent MVR4,362.1 million (MVR4.4 billion) by the review period in 2021, putting the state body well ahead of its peers in terms of spending.<\/p>\n<p>Second highest spending was observed from Ministry of Education with MVR2,736.7 million (MVR2.7 billion).<\/p>\n<p>Tax sources such as TGST, GGST and BPT continue to remain as the strongest revenue contributors to the state. Meanwhile, the overall balance for the period is a deficit of MVR13,015.6 million (MVR13.0 billion).<\/p>\n<p>The year-to-date total of tax earnings as of 23rd December reached MVR13,355.4 million (MVR13.4 billion) while the cumulative total of non-tax revenues reached MVR4,731.9 million (MVR4.7 billion). Maldives state has earned a total of MVR916.2 million in foreign grants by review period.<\/p>\n<p>Cumulative total of recurrent expenditure by the review period reached MVR22,350.2 million (MVR22.4 billion) while the cumulative total of capital expenditure reached MVR9,674.7 million (MVR9.7 billion).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to the latest fiscal developments from Ministry of Finance, Maldives government has spent a total MVR32,024.9 million (MVR32.0 billion) as of 23rd December 2021. Moreover, the approved expenditure for the fiscal year of 2021 was MVR33,431.5 million (MVR33.4 billion). As of 23rd December, state had spent 95.79% of the approved expense budget. On the<\/p>\n","protected":false},"author":4,"featured_media":2580,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2424,2428],"tags":[1301,1603,1727,1976,1981,2038],"class_list":{"0":"post-2673","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-finance","8":"category-public-sector","9":"tag-maldives-government","10":"tag-non-tax-revenue","11":"tag-public-finance","12":"tag-state-expenditure","13":"tag-state-revenue","14":"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 spends over 95% of expenses as of 23 December 2021 - 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=2673\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"State spends over 95% of expenses as of 23 December 2021 - Maldives Business Times\" \/>\n<meta property=\"og:description\" content=\"According to the latest fiscal developments from Ministry of Finance, Maldives government has spent a total MVR32,024.9 million (MVR32.0 billion) as of 23rd December 2021. Moreover, the approved expenditure for the fiscal year of 2021 was MVR33,431.5 million (MVR33.4 billion). As of 23rd December, state had spent 95.79% of the approved expense budget. On the\" \/>\n<meta property=\"og:url\" content=\"https:\/\/mbt.mv\/?p=2673\" \/>\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=\"2022-01-02T06:03:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mbt.mv\/wp-content\/uploads\/2021\/12\/Lux-South-Ari-Atoll-Resort-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"980\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\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=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/mbt.mv\/?p=2673#article\",\"isPartOf\":{\"@id\":\"https:\/\/mbt.mv\/?p=2673\"},\"author\":{\"name\":\"Mohamed Reehaan\",\"@id\":\"https:\/\/mbt.mv\/#\/schema\/person\/a0eedc1134716e7c8e4da095494670c2\"},\"headline\":\"State spends over 95% of expenses as of 23 December 2021\",\"datePublished\":\"2022-01-02T06:03:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/mbt.mv\/?p=2673\"},\"wordCount\":288,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/mbt.mv\/#organization\"},\"image\":{\"@id\":\"https:\/\/mbt.mv\/?p=2673#primaryimage\"},\"thumbnailUrl\":\"https:\/\/mbt.mv\/wp-content\/uploads\/2021\/12\/Lux-South-Ari-Atoll-Resort-1.jpg\",\"keywords\":[\"Maldives Government\",\"Non Tax Revenue\",\"Public Finance\",\"State Expenditure\",\"State Revenue\",\"Tax Revenue\"],\"articleSection\":[\"FINANCE\",\"PUBLIC SECTOR\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/mbt.mv\/?p=2673#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/mbt.mv\/?p=2673\",\"url\":\"https:\/\/mbt.mv\/?p=2673\",\"name\":\"State spends over 95% of expenses as of 23 December 2021 - Maldives Business Times\",\"isPartOf\":{\"@id\":\"https:\/\/mbt.mv\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/mbt.mv\/?p=2673#primaryimage\"},\"image\":{\"@id\":\"https:\/\/mbt.mv\/?p=2673#primaryimage\"},\"thumbnailUrl\":\"https:\/\/mbt.mv\/wp-content\/uploads\/2021\/12\/Lux-South-Ari-Atoll-Resort-1.jpg\",\"datePublished\":\"2022-01-02T06:03:31+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/mbt.mv\/?p=2673#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/mbt.mv\/?p=2673\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/mbt.mv\/?p=2673#primaryimage\",\"url\":\"https:\/\/mbt.mv\/wp-content\/uploads\/2021\/12\/Lux-South-Ari-Atoll-Resort-1.jpg\",\"contentUrl\":\"https:\/\/mbt.mv\/wp-content\/uploads\/2021\/12\/Lux-South-Ari-Atoll-Resort-1.jpg\",\"width\":1200,\"height\":980,\"caption\":\"Tourism remains one of the major economic sectors that contribute towards state earnings\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/mbt.mv\/?p=2673#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/mbt.mv\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"State spends over 95% of expenses as of 23 December 2021\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/mbt.mv\/#website\",\"url\":\"https:\/\/mbt.mv\/\",\"name\":\"Maldives Business Times\",\"description\":\"Maldives Business Times delivers timely and in-depth English news on business, economy, and breaking events in the Maldives.\",\"publisher\":{\"@id\":\"https:\/\/mbt.mv\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/mbt.mv\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/mbt.mv\/#organization\",\"name\":\"Maldives Business Times\",\"url\":\"https:\/\/mbt.mv\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/mbt.mv\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/mbt.mv\/wp-content\/uploads\/2025\/02\/background_removed_image_x5KLRjOsQMGL6jgPS4Hiew.png\",\"contentUrl\":\"https:\/\/mbt.mv\/wp-content\/uploads\/2025\/02\/background_removed_image_x5KLRjOsQMGL6jgPS4Hiew.png\",\"width\":1312,\"height\":736,\"caption\":\"Maldives Business Times\"},\"image\":{\"@id\":\"https:\/\/mbt.mv\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/mvbiztimes\",\"https:\/\/x.com\/mvbiztimes\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/mbt.mv\/#\/schema\/person\/a0eedc1134716e7c8e4da095494670c2\",\"name\":\"Mohamed Reehaan\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/mbt.mv\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/ac0f3a9111db774c387735910f0eeee4432a0db79cc936fe00f3f0fb05f1af6c?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/ac0f3a9111db774c387735910f0eeee4432a0db79cc936fe00f3f0fb05f1af6c?s=96&d=mm&r=g\",\"caption\":\"Mohamed Reehaan\"},\"url\":\"https:\/\/mbt.mv\/?author=4\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"State spends over 95% of expenses as of 23 December 2021 - Maldives Business Times","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/mbt.mv\/?p=2673","og_locale":"en_US","og_type":"article","og_title":"State spends over 95% of expenses as of 23 December 2021 - Maldives Business Times","og_description":"According to the latest fiscal developments from Ministry of Finance, Maldives government has spent a total MVR32,024.9 million (MVR32.0 billion) as of 23rd December 2021. Moreover, the approved expenditure for the fiscal year of 2021 was MVR33,431.5 million (MVR33.4 billion). As of 23rd December, state had spent 95.79% of the approved expense budget. On the","og_url":"https:\/\/mbt.mv\/?p=2673","og_site_name":"Maldives Business Times","article_publisher":"https:\/\/www.facebook.com\/mvbiztimes","article_published_time":"2022-01-02T06:03:31+00:00","og_image":[{"width":1200,"height":980,"url":"https:\/\/mbt.mv\/wp-content\/uploads\/2021\/12\/Lux-South-Ari-Atoll-Resort-1.jpg","type":"image\/jpeg"}],"author":"Mohamed Reehaan","twitter_card":"summary_large_image","twitter_creator":"@mvbiztimes","twitter_site":"@mvbiztimes","twitter_misc":{"Written by":"Mohamed Reehaan","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/mbt.mv\/?p=2673#article","isPartOf":{"@id":"https:\/\/mbt.mv\/?p=2673"},"author":{"name":"Mohamed Reehaan","@id":"https:\/\/mbt.mv\/#\/schema\/person\/a0eedc1134716e7c8e4da095494670c2"},"headline":"State spends over 95% of expenses as of 23 December 2021","datePublished":"2022-01-02T06:03:31+00:00","mainEntityOfPage":{"@id":"https:\/\/mbt.mv\/?p=2673"},"wordCount":288,"commentCount":0,"publisher":{"@id":"https:\/\/mbt.mv\/#organization"},"image":{"@id":"https:\/\/mbt.mv\/?p=2673#primaryimage"},"thumbnailUrl":"https:\/\/mbt.mv\/wp-content\/uploads\/2021\/12\/Lux-South-Ari-Atoll-Resort-1.jpg","keywords":["Maldives Government","Non Tax Revenue","Public Finance","State Expenditure","State Revenue","Tax Revenue"],"articleSection":["FINANCE","PUBLIC SECTOR"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/mbt.mv\/?p=2673#respond"]}]},{"@type":"WebPage","@id":"https:\/\/mbt.mv\/?p=2673","url":"https:\/\/mbt.mv\/?p=2673","name":"State spends over 95% of expenses as of 23 December 2021 - Maldives Business Times","isPartOf":{"@id":"https:\/\/mbt.mv\/#website"},"primaryImageOfPage":{"@id":"https:\/\/mbt.mv\/?p=2673#primaryimage"},"image":{"@id":"https:\/\/mbt.mv\/?p=2673#primaryimage"},"thumbnailUrl":"https:\/\/mbt.mv\/wp-content\/uploads\/2021\/12\/Lux-South-Ari-Atoll-Resort-1.jpg","datePublished":"2022-01-02T06:03:31+00:00","breadcrumb":{"@id":"https:\/\/mbt.mv\/?p=2673#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/mbt.mv\/?p=2673"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/mbt.mv\/?p=2673#primaryimage","url":"https:\/\/mbt.mv\/wp-content\/uploads\/2021\/12\/Lux-South-Ari-Atoll-Resort-1.jpg","contentUrl":"https:\/\/mbt.mv\/wp-content\/uploads\/2021\/12\/Lux-South-Ari-Atoll-Resort-1.jpg","width":1200,"height":980,"caption":"Tourism remains one of the major economic sectors that contribute towards state earnings"},{"@type":"BreadcrumbList","@id":"https:\/\/mbt.mv\/?p=2673#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/mbt.mv\/"},{"@type":"ListItem","position":2,"name":"State spends over 95% of expenses as of 23 December 2021"}]},{"@type":"WebSite","@id":"https:\/\/mbt.mv\/#website","url":"https:\/\/mbt.mv\/","name":"Maldives Business Times","description":"Maldives Business Times delivers timely and in-depth English news on business, economy, and breaking events in the Maldives.","publisher":{"@id":"https:\/\/mbt.mv\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/mbt.mv\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/mbt.mv\/#organization","name":"Maldives Business Times","url":"https:\/\/mbt.mv\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/mbt.mv\/#\/schema\/logo\/image\/","url":"https:\/\/mbt.mv\/wp-content\/uploads\/2025\/02\/background_removed_image_x5KLRjOsQMGL6jgPS4Hiew.png","contentUrl":"https:\/\/mbt.mv\/wp-content\/uploads\/2025\/02\/background_removed_image_x5KLRjOsQMGL6jgPS4Hiew.png","width":1312,"height":736,"caption":"Maldives Business Times"},"image":{"@id":"https:\/\/mbt.mv\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/mvbiztimes","https:\/\/x.com\/mvbiztimes"]},{"@type":"Person","@id":"https:\/\/mbt.mv\/#\/schema\/person\/a0eedc1134716e7c8e4da095494670c2","name":"Mohamed Reehaan","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/mbt.mv\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/ac0f3a9111db774c387735910f0eeee4432a0db79cc936fe00f3f0fb05f1af6c?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ac0f3a9111db774c387735910f0eeee4432a0db79cc936fe00f3f0fb05f1af6c?s=96&d=mm&r=g","caption":"Mohamed Reehaan"},"url":"https:\/\/mbt.mv\/?author=4"}]}},"_links":{"self":[{"href":"https:\/\/mbt.mv\/index.php?rest_route=\/wp\/v2\/posts\/2673","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mbt.mv\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mbt.mv\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mbt.mv\/index.php?rest_route=\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/mbt.mv\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2673"}],"version-history":[{"count":0,"href":"https:\/\/mbt.mv\/index.php?rest_route=\/wp\/v2\/posts\/2673\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mbt.mv\/index.php?rest_route=\/wp\/v2\/media\/2580"}],"wp:attachment":[{"href":"https:\/\/mbt.mv\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2673"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mbt.mv\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2673"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mbt.mv\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2673"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}