{"id":2909,"date":"2022-02-20T10:52:38","date_gmt":"2022-02-20T05:52:38","guid":{"rendered":"https:\/\/mbt.mv\/?p=2909"},"modified":"2022-02-20T10:52:38","modified_gmt":"2022-02-20T05:52:38","slug":"expenditure-higher-than-revenue-balance-reverses-to-deficit-once-again","status":"publish","type":"post","link":"https:\/\/mbt.mv\/?p=2909","title":{"rendered":"Expenditure higher than revenue, balance reverses to deficit once again"},"content":{"rendered":"<p>According to the latest update from the Ministry of Finance, the state expenditure has reached a cumulative total of MVR2,687.7 million (MVR2.69 billion) as of 10th February 2022.<\/p>\n<p>Meanwhile, the cumulative total of revenues inclusive of foreign grants by the same period reached MVR2,599.3 million (MVR2.59 billion), thereby indicating a higher expenditure than revenue earned.<\/p>\n<p>The overall balance of the state finances, which were in surplus during the previous review has once again shifted to a deficit of MVR88.3 million.<\/p>\n<p>Tax incomes sources such as TGST, GGST, and BPT have continued to contribute the strongest to the Maldivian state in terms of revenue collections.<\/p>\n<p>Moreover, the expenditure composition confirms 79% of the total has been spent on recurrent expenses and the remaining 21% on capital expenses. On the other hand, 84% of the total revenue came from tax sources, and the remaining 16% from non-tax sources.<\/p>\n<p>As of 10th February 2022, the state has earned a cumulative total of MVR2,188.7 million (MVR2.19 billion) in tax revenues and MVR523.2 million in non-tax revenues.<\/p>\n<p>By the review period, the Maldives government has spent MVR2,135.2 million on recurrent expenses and MVR552.4 million on capital expenses.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to the latest update from the Ministry of Finance, the state expenditure has reached a cumulative total of MVR2,687.7 million (MVR2.69 billion) as of 10th February 2022. Meanwhile, the cumulative total of revenues inclusive of foreign grants by the same period reached MVR2,599.3 million (MVR2.59 billion), thereby indicating a higher expenditure than revenue earned.<\/p>\n","protected":false},"author":4,"featured_media":2910,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2424,2428],"tags":[1481,1603,1727,1976,1981,2038],"class_list":{"0":"post-2909","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-finance","8":"category-public-sector","9":"tag-ministry-of-finance","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>Expenditure higher than revenue, balance reverses to deficit once again - 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=2909\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Expenditure higher than revenue, balance reverses to deficit once again - Maldives Business Times\" \/>\n<meta property=\"og:description\" content=\"According to the latest update from the Ministry of Finance, the state expenditure has reached a cumulative total of MVR2,687.7 million (MVR2.69 billion) as of 10th February 2022. Meanwhile, the cumulative total of revenues inclusive of foreign grants by the same period reached MVR2,599.3 million (MVR2.59 billion), thereby indicating a higher expenditure than revenue earned.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/mbt.mv\/?p=2909\" \/>\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=\"2022-02-20T05:52:38+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=2909#article\",\"isPartOf\":{\"@id\":\"https:\/\/mbt.mv\/?p=2909\"},\"author\":{\"name\":\"Mohamed Reehaan\",\"@id\":\"https:\/\/mbt.mv\/#\/schema\/person\/a0eedc1134716e7c8e4da095494670c2\"},\"headline\":\"Expenditure higher than revenue, balance reverses to deficit once again\",\"datePublished\":\"2022-02-20T05:52:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/mbt.mv\/?p=2909\"},\"wordCount\":196,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/mbt.mv\/#organization\"},\"image\":{\"@id\":\"https:\/\/mbt.mv\/?p=2909#primaryimage\"},\"thumbnailUrl\":\"\",\"keywords\":[\"Ministry of Finance\",\"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=2909#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/mbt.mv\/?p=2909\",\"url\":\"https:\/\/mbt.mv\/?p=2909\",\"name\":\"Expenditure higher than revenue, balance reverses to deficit once again - 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