{"id":3338,"date":"2022-05-18T17:20:15","date_gmt":"2022-05-18T12:20:15","guid":{"rendered":"https:\/\/mbt.mv\/?p=3338"},"modified":"2022-05-18T17:20:15","modified_gmt":"2022-05-18T12:20:15","slug":"expenditure-hit-mvr12-3bn-deficit-at-mvr2-03bn","status":"publish","type":"post","link":"https:\/\/mbt.mv\/?p=3338","title":{"rendered":"Expenditure hit MVR12.3bn, deficit at MVR2.03bn"},"content":{"rendered":"<p>According to the latest update from Ministry of Finance the cumulative total of state expenditures as of 12th May 2022 stood at MVR12,325.0 million (MVR12.3 billion).<\/p>\n<p>On the other hand, state revenues inclusive of grants are currently at MVR10,294.7 million (MVR10.3 billion).<\/p>\n<p>The expenditure composition shows 75% of the total budget has been spent on recurrent expenses and the remaining 25% were spent on capital expenses. Meanwhile, state earned 71% of its revenues from tax sources and the remaining 29% from non tax sources.<\/p>\n<p>Meanwhile, the overall balance for the period gives a deficit of MVR2,030.3 million (MVR2.03 billion).<\/p>\n<p>So far the state has earned MVR7,259.0 million (MVR7.26 billion) tax revenues on a cumulative basis, and MVR3,018.3 million (MVR3.02 billion) in non tax revenues. In addition to this, state has received MVR137.2 million in foreign grants so far.<\/p>\n<p>On the other hand, state has spent a cumulative total of MVR9,278.0 million (MVR9.28 billion) on recurrent expenses out of which it had spent MVR5,664.8 million (MVR5.66 billion) on administrative and operational expenses and another MVR3,609.1 million (MVR3.61 billion) on salaries, wages and pensions of public sector employees.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to the latest update from Ministry of Finance the cumulative total of state expenditures as of 12th May 2022 stood at MVR12,325.0 million (MVR12.3 billion). On the other hand, state revenues inclusive of grants are currently at MVR10,294.7 million (MVR10.3 billion). The expenditure composition shows 75% of the total budget has been spent on<\/p>\n","protected":false},"author":4,"featured_media":3075,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2423],"tags":[1481,1603,1727,1976,1981,2038],"class_list":{"0":"post-3338","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-ministry-of-finance","9":"tag-non-tax-revenue","10":"tag-public-finance","11":"tag-state-expenditure","12":"tag-state-revenue","13":"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 hit MVR12.3bn, deficit at MVR2.03bn - 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=3338\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Expenditure hit MVR12.3bn, deficit at MVR2.03bn - Maldives Business Times\" \/>\n<meta property=\"og:description\" content=\"According to the latest update from Ministry of Finance the cumulative total of state expenditures as of 12th May 2022 stood at MVR12,325.0 million (MVR12.3 billion). On the other hand, state revenues inclusive of grants are currently at MVR10,294.7 million (MVR10.3 billion). The expenditure composition shows 75% of the total budget has been spent on\" \/>\n<meta property=\"og:url\" content=\"https:\/\/mbt.mv\/?p=3338\" \/>\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=\"2022-05-18T12:20:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mbt.mv\/wp-content\/uploads\/2022\/03\/Ibrahim-Ameer-Finance-Minister-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1500\" \/>\n\t<meta property=\"og:image:height\" content=\"969\" \/>\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=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/mbt.mv\/?p=3338#article\",\"isPartOf\":{\"@id\":\"https:\/\/mbt.mv\/?p=3338\"},\"author\":{\"name\":\"Mohamed Reehaan\",\"@id\":\"https:\/\/mbt.mv\/#\/schema\/person\/a0eedc1134716e7c8e4da095494670c2\"},\"headline\":\"Expenditure hit MVR12.3bn, deficit at MVR2.03bn\",\"datePublished\":\"2022-05-18T12:20:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/mbt.mv\/?p=3338\"},\"wordCount\":189,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/mbt.mv\/#organization\"},\"image\":{\"@id\":\"https:\/\/mbt.mv\/?p=3338#primaryimage\"},\"thumbnailUrl\":\"https:\/\/mbt.mv\/wp-content\/uploads\/2022\/03\/Ibrahim-Ameer-Finance-Minister-1.jpg\",\"keywords\":[\"Ministry of Finance\",\"Non Tax Revenue\",\"Public Finance\",\"State Expenditure\",\"State Revenue\",\"Tax Revenue\"],\"articleSection\":[\"BUSINESS\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/mbt.mv\/?p=3338#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/mbt.mv\/?p=3338\",\"url\":\"https:\/\/mbt.mv\/?p=3338\",\"name\":\"Expenditure hit MVR12.3bn, deficit at MVR2.03bn - 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