{"id":5649,"date":"2023-03-26T12:07:52","date_gmt":"2023-03-26T07:07:52","guid":{"rendered":"https:\/\/mbt.mv\/?p=5649"},"modified":"2023-03-26T12:07:52","modified_gmt":"2023-03-26T07:07:52","slug":"expenditures-hit-mvr9-2bn-revenues-sluggish-at-mvr7-2bn","status":"publish","type":"post","link":"https:\/\/mbt.mv\/?p=5649","title":{"rendered":"Expenditures hit MVR9.2bn, revenues sluggish at MVR7.2bn"},"content":{"rendered":"

The cumulative total of state expenditures reached MVR9,225.2 million (MVR9.2 billion) as of 16th March 2022, reported the Ministry of Finance.<\/p>\n

Meanwhile, the cumulative total of revenues inclusive of foreign grants were comparatively sluggish against expenses, and were recorded at MVR7,196.1 million (MVR7.2 billion) by the review date.<\/p>\n

The overall balance for the period is a deficit of MVR2,029.2 million (MVR2.03 billion).<\/p>\n

The tax revenues total in annual terms is at MVR5,774.5 million (MVR5.8 billion) by the review date compared to MVR4,389.1 million (MVR4.4 billion) during the same period in 2022. Meanwhile, non-tax revenues total as of 16th March stood at MVR1,404.3 million (MVR1.4 billion) compared to MVR1,266.7 million (MVR1.3 billion) by the same period last year.<\/p>\n

Tax Revenues<\/h3>\n
    \n
  1. TGST: MVR2,270.5 million (MVR2.3 billion)<\/li>\n
  2. Corporate Income Tax: MVR824.5 million<\/li>\n
  3. GGST: MVR797.1 million<\/li>\n
  4. Import Duties: MVR690.1 million<\/li>\n
  5. Withholding Tax: MVR268.9 million<\/li>\n<\/ol>\n

    Non-tax Revenues<\/h3>\n
      \n
    1. Airport Development Fee: MVR205.1 million<\/li>\n
    2. Registration and License Fees: MVR156.1 million<\/li>\n
    3. SOE Dividends: MVR147.6 million<\/li>\n
    4. Rent from Resorts: MVR138.3 million<\/li>\n
    5. Interest and Profits: MVR107.6 million<\/li>\n<\/ol>\n

      The recurrent expenditure total in annual terms has reached MVR6,199.4 million (MVR6.2 billion) as of the review date compared to the MVR4,924.6 million (MVR4.9 billion) during the same period in 2022. Moreover, the cumulative total of capital expenditure reached MVR3,025.9 million (MVR3.03 billion) as of the review date compared to the MVR2,294.9 million (MVR2.3 billion) during the corresponding period of 2022.<\/p>\n

      Recurrent Expenditure<\/h3>\n
        \n
      • Administrative and Operational Expenses: MVR4,092.6 million (MVR4.1 billion)<\/li>\n
      • Salaries, Wages, and Pensions: MVR2,011.8 million (MVR2.01 billion)<\/li>\n
      • Losses and Write-offs: MVR95.0 million<\/li>\n<\/ul>\n

        Capital Expenditure<\/h3>\n
          \n
        • Infrastructure Assets: MVR1,584.1 million (MVR1.6 billion)<\/li>\n
        • Land and Buildings: MVR872.0 million<\/li>\n
        • Lending: MVR363.7 million<\/li>\n
        • Development Projects and Investment Outlays: MVR149.2 million<\/li>\n
        • Capital Equipment: MVR56.9 million<\/li>\n<\/ul>\n

           <\/p>\n","protected":false},"excerpt":{"rendered":"

          The cumulative total of state expenditures reached MVR9,225.2 million (MVR9.2 billion) as of 16th March 2022, reported the Ministry of Finance. Meanwhile, the cumulative total of revenues inclusive of foreign grants were comparatively sluggish against expenses, and were recorded at MVR7,196.1 million (MVR7.2 billion) by the review date. The overall balance for the period is<\/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":[295,1301,1481,1603,1773,1981,2038],"class_list":{"0":"post-5649","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-maldives-government","11":"tag-ministry-of-finance","12":"tag-non-tax-revenue","13":"tag-recurrent-expenditure","14":"tag-state-revenue","15":"tag-tax-revenue"},"yoast_head":"\nExpenditures hit MVR9.2bn, revenues sluggish at MVR7.2bn - 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=5649\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Expenditures hit MVR9.2bn, revenues sluggish at MVR7.2bn - Maldives Business Times\" \/>\n<meta property=\"og:description\" content=\"The cumulative total of state expenditures reached MVR9,225.2 million (MVR9.2 billion) as of 16th March 2022, reported the Ministry of Finance. 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The overall balance for the period is\" \/>\n<meta property=\"og:url\" content=\"https:\/\/mbt.mv\/?p=5649\" \/>\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=\"2023-03-26T07:07:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mbt.mv\/wp-content\/uploads\/2023\/03\/338004_3_f0b00e2b563557332d3f3faedfe01ae51471b67d-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=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/mbt.mv\/?p=5649#article\",\"isPartOf\":{\"@id\":\"https:\/\/mbt.mv\/?p=5649\"},\"author\":{\"name\":\"Mohamed Reehaan\",\"@id\":\"https:\/\/mbt.mv\/#\/schema\/person\/a0eedc1134716e7c8e4da095494670c2\"},\"headline\":\"Expenditures hit MVR9.2bn, revenues sluggish at MVR7.2bn\",\"datePublished\":\"2023-03-26T07:07:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/mbt.mv\/?p=5649\"},\"wordCount\":284,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/mbt.mv\/#organization\"},\"image\":{\"@id\":\"https:\/\/mbt.mv\/?p=5649#primaryimage\"},\"thumbnailUrl\":\"https:\/\/mbt.mv\/wp-content\/uploads\/2023\/03\/338004_3_f0b00e2b563557332d3f3faedfe01ae51471b67d-1.jpg\",\"keywords\":[\"Capital Expenditure\",\"Maldives Government\",\"Ministry of Finance\",\"Non Tax Revenue\",\"Recurrent Expenditure\",\"State Revenue\",\"Tax Revenue\"],\"articleSection\":[\"FINANCE\",\"PUBLIC SECTOR\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/mbt.mv\/?p=5649#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/mbt.mv\/?p=5649\",\"url\":\"https:\/\/mbt.mv\/?p=5649\",\"name\":\"Expenditures hit MVR9.2bn, revenues sluggish at MVR7.2bn - 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