{"id":4648,"date":"2022-11-14T11:33:27","date_gmt":"2022-11-14T06:33:27","guid":{"rendered":"https:\/\/mbt.mv\/?p=4648"},"modified":"2022-11-14T11:33:27","modified_gmt":"2022-11-14T06:33:27","slug":"revenues-and-grants-decrease-by-32-2-in-september-2022","status":"publish","type":"post","link":"https:\/\/mbt.mv\/?p=4648","title":{"rendered":"Revenues and grants decrease by 32.2% in September 2022"},"content":{"rendered":"<p>Revenues and grants for September 2022 stood at MVR1.58 billion, which is a 32.2% decrement when compared with the same month in 2021.<\/p>\n<p>On the other hand, total expenditure for the month increased by 6.6% compared with the corresponding month last year. Capital expenditure decreased by 47.4% whereas recurrent expenditure increased by 33.3% in the review month.<\/p>\n<p>Fiscal balance for the month gives an overall deficit of MVR1.57 billion.<\/p>\n<p>By the end of September 2022, cumulative expenditure total reached MVR28.04 billion. The cumulative revenues inclusive of grants by the same period reached MVR21.5 billion.<\/p>\n<p>The state approved budget for the year is MVR34.1 billion, while the project total revenue for the year is MVR24.3 billion.<\/p>\n<p>Expenditure composition for the month indicate;<\/p>\n<ul>\n<li>Administrative and operational expenses: 54.3%<\/li>\n<li>Salaries, wages and pensions: 29.4%<\/li>\n<li>Infrastructure assets: 11.7%<\/li>\n<li>Capital equipment: 1.9%<\/li>\n<li>Development projects and investment outlays: 1.4%<\/li>\n<\/ul>\n<p>Revenue and grants composition for the month include;<\/p>\n<ul>\n<li>TGST: 24.6%<\/li>\n<li>Property Income: 19.5%<\/li>\n<li>GGST: 15.7%<\/li>\n<li>Import duties: 5.5%<\/li>\n<li>Non-residence Withholding Tax: 5.1%<\/li>\n<\/ul>\n<p>Tax revenues for the month stood at MVR1.04 billion, and non-tax revenues stood at MVR533.3 million. Grants received to state during the review month stood at MVR7.3 million.<\/p>\n<p>State spent MVR2.6 billion on recurrent expenses during the month, while MVR514.2 million was spent on capital expenditure in September 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Revenues and grants for September 2022 stood at MVR1.58 billion, which is a 32.2% decrement when compared with the same month in 2021. On the other hand, total expenditure for the month increased by 6.6% compared with the corresponding month last year. Capital expenditure decreased by 47.4% whereas recurrent expenditure increased by 33.3% in the<\/p>\n","protected":false},"author":4,"featured_media":4649,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2424,2428],"tags":[295,1481,1603,1727,1773,1976,1981,2038],"class_list":{"0":"post-4648","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-ministry-of-finance","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>Revenues and grants decrease by 32.2% in September 2022 - 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=4648\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Revenues and grants decrease by 32.2% in September 2022 - Maldives Business Times\" \/>\n<meta property=\"og:description\" content=\"Revenues and grants for September 2022 stood at MVR1.58 billion, which is a 32.2% decrement when compared with the same month in 2021. On the other hand, total expenditure for the month increased by 6.6% compared with the corresponding month last year. Capital expenditure decreased by 47.4% whereas recurrent expenditure increased by 33.3% in the\" \/>\n<meta property=\"og:url\" content=\"https:\/\/mbt.mv\/?p=4648\" \/>\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=\"2022-11-14T06:33:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mbt.mv\/wp-content\/uploads\/2022\/11\/339733_3_6b7644706fb531633f09d76e5d3fdc984bc83c8f_medium-1.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"484\" \/>\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=4648#article\",\"isPartOf\":{\"@id\":\"https:\/\/mbt.mv\/?p=4648\"},\"author\":{\"name\":\"Mohamed Reehaan\",\"@id\":\"https:\/\/mbt.mv\/#\/schema\/person\/a0eedc1134716e7c8e4da095494670c2\"},\"headline\":\"Revenues and grants decrease by 32.2% in September 2022\",\"datePublished\":\"2022-11-14T06:33:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/mbt.mv\/?p=4648\"},\"wordCount\":203,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/mbt.mv\/#organization\"},\"image\":{\"@id\":\"https:\/\/mbt.mv\/?p=4648#primaryimage\"},\"thumbnailUrl\":\"https:\/\/mbt.mv\/wp-content\/uploads\/2022\/11\/339733_3_6b7644706fb531633f09d76e5d3fdc984bc83c8f_medium-1.jpeg\",\"keywords\":[\"Capital Expenditure\",\"Ministry of Finance\",\"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=4648#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/mbt.mv\/?p=4648\",\"url\":\"https:\/\/mbt.mv\/?p=4648\",\"name\":\"Revenues and grants decrease by 32.2% in September 2022 - 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