State expenditure reached MVR24.6 billion as of 01st September 2022, reports Ministry of Finance.<\/p>\n
Meanwhile, the state revenue inclusive of foreign grants reached MVR18.7 billion.<\/p>\n
So far, 73% of the budget was spent on recurrent needs while the remaining 27% was spent on capital expenditure. On the other hand, 74% of the earnings came from tax sources while 26% came from non-tax sources.<\/p>\n
The overall balance for the period is a deficit of MVR5.85 billion.<\/p>\n
The cumulative total tax revenue is currently at MVR13.8 billion, while non-tax cumulative total is at MVR4.8 billion. Capital receipts are currently at just MVR11.8 billion while foreign grants amount to MVR247.2 million.<\/p>\n
On the other hand, recurrent expenditure is at MVR17.9 billion; MVR10.6 billion is spent on administrative and operational expenses while MVR7.3 billion is spent on salaries, wages and pensions of public sector employees.<\/p>\n","protected":false},"excerpt":{"rendered":"
State expenditure reached MVR24.6 billion as of 01st September 2022, reports Ministry of Finance. Meanwhile, the state revenue inclusive of foreign grants reached MVR18.7 billion. So far, 73% of the budget was spent on recurrent needs while the remaining 27% was spent on capital expenditure. On the other hand, 74% of the earnings came from<\/p>\n","protected":false},"author":4,"featured_media":3939,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2424,2428],"tags":[1603,1727,1976,1981,2038],"class_list":{"0":"post-4092","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-finance","8":"category-public-sector","9":"tag-non-tax-revenue","10":"tag-public-finance","11":"tag-state-expenditure","12":"tag-state-revenue","13":"tag-tax-revenue"},"yoast_head":"\n