{"id":5492,"date":"2023-03-13T14:51:12","date_gmt":"2023-03-13T09:51:12","guid":{"rendered":"https:\/\/mbt.mv\/?p=5492"},"modified":"2023-03-13T14:51:12","modified_gmt":"2023-03-13T09:51:12","slug":"state-expenses-reach-mvr7-3-billion-deficit-at-mvr1-1-billion","status":"publish","type":"post","link":"https:\/\/mbt.mv\/?p=5492","title":{"rendered":"State expenses reach MVR7.3 billion, deficit at MVR1.1 billion"},"content":{"rendered":"<p>The state expenditures in cumulative terms reached a total of MVR7.3 billion as of 02nd March 2023, reported the Ministry of Finance.<\/p>\n<p>According to the ministry, government revenues inclusive of foreign grants by the review date reached MVR6.2 billion. Owing to higher spending compared to earnings, the overall balance for the period is a deficit of MVR1.1 billion.<\/p>\n<h3>Revenues &amp; Grants<\/h3>\n<ul>\n<li>Tax Revenues: MVR5.3 billion<\/li>\n<li>Non-tax Revenues: MVR856.9 million<\/li>\n<li>Grants: MVR9.3 million<\/li>\n<li>Capital Receipts: MVR1.4 million<\/li>\n<\/ul>\n<h3>Expenditure<\/h3>\n<ul>\n<li>Recurrent Expenditure: MVR5.5 billion<\/li>\n<li>Capital Expenditure: MVR1.8 billion<\/li>\n<\/ul>\n<h4>Top Revenue Contributors<\/h4>\n<ol>\n<li>TGST: MVR2.2 billion<\/li>\n<li>Corporate Income Tax: MVR768.6 million<\/li>\n<li>GGST: MVR750.9 million<\/li>\n<li>Import Duties: MVR535.2 million<\/li>\n<li>Withholding Tax: MVR229.9 million<\/li>\n<\/ol>\n<h4>Expenditure Composition<\/h4>\n<p>Recurrent Expenditure;<\/p>\n<ul>\n<li>Administrative and Operational Expenses: MVR3.4 billion<\/li>\n<li>Salaries, Wages, and Pensions: MVR1.9 billion<\/li>\n<li>Losses and Write-Offs: MVR155.7 million<\/li>\n<\/ul>\n<p>Capital Expenditure;<\/p>\n<ul>\n<li>Infrastructure Assets: MVR815.9 million<\/li>\n<li>Land and Buildings: MVR572.3 million<\/li>\n<li>Lending: MVR224.4 million<\/li>\n<li>Development Projects and Investment Outlays: MVR145.4 million<\/li>\n<li>Capital Equipment: MVR51.0 million<\/li>\n<\/ul>\n<h3>Memorandum Items<\/h3>\n<ul>\n<li>Loan Repayment: MVR527.4 million<\/li>\n<li>Transfers to Sovereign Development Fund (SDF): MVR163.3 million<\/li>\n<li>Public Sector Investment Program (PSIP): MVR1.4 billion<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The state expenditures in cumulative terms reached a total of MVR7.3 billion as of 02nd March 2023, reported the Ministry of Finance. According to the ministry, government revenues inclusive of foreign grants by the review date reached MVR6.2 billion. Owing to higher spending compared to earnings, the overall balance for the period is a deficit<\/p>\n","protected":false},"author":4,"featured_media":5493,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2424,2428],"tags":[1462,1481,1727,1976,1981],"class_list":{"0":"post-5492","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-finance","8":"category-public-sector","9":"tag-minister-of-finance-ibrahim-ameer","10":"tag-ministry-of-finance","11":"tag-public-finance","12":"tag-state-expenditure","13":"tag-state-revenue"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>State expenses reach MVR7.3 billion, deficit at MVR1.1 billion - 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=5492\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"State expenses reach MVR7.3 billion, deficit at MVR1.1 billion - Maldives Business Times\" \/>\n<meta property=\"og:description\" content=\"The state expenditures in cumulative terms reached a total of MVR7.3 billion as of 02nd March 2023, reported the Ministry of Finance. According to the ministry, government revenues inclusive of foreign grants by the review date reached MVR6.2 billion. 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