{"id":5753,"date":"2023-04-04T10:52:42","date_gmt":"2023-04-04T05:52:42","guid":{"rendered":"https:\/\/mbt.mv\/?p=5753"},"modified":"2023-04-04T10:52:42","modified_gmt":"2023-04-04T05:52:42","slug":"expenses-at-mvr9-9bn-revenues-at-mvr7-6bn","status":"publish","type":"post","link":"https:\/\/mbt.mv\/?p=5753","title":{"rendered":"Expenses at MVR9.9bn, revenues at MVR7.6bn"},"content":{"rendered":"<p>State expenditures reach MVR9.9 billion, revenues inclusive of grants hit MVR7.6 billion; in cumulative terms.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-5754 size-large\" src=\"https:\/\/mbt.mv\/wp-content\/uploads\/2023\/04\/Compositions-1024x360.jpg\" alt=\"\" width=\"788\" height=\"277\" \/><\/p>\n<p>The overall balance for the period is a deficit of MVR2.4 billion.<\/p>\n<h3>Revenues<\/h3>\n<ul>\n<li>Tax Revenues: MVR6.03 billion<\/li>\n<li>Non-Tax Revenues: MVR1.51 billion<\/li>\n<li>Capital Receipts: MVR1.6 million<\/li>\n<li>Grants: MVR16.4 million<\/li>\n<\/ul>\n<h4>Top Revenue Streams<\/h4>\n<ol>\n<li>Tax | TGST: MVR2.4 billion<\/li>\n<li>Tax | Corporate Income Tax: MVR834.9 million<\/li>\n<li>Tax | GGST: MVR830.2 million<\/li>\n<li>Tax | Import Duties: MVR752.8 million<\/li>\n<li>Tax | Withholding Tax: MVR298.9 million<\/li>\n<li>Tax | Green Tax: MVR229.5 million<\/li>\n<li>Non-Tax | Airport Development Fee: MVR219.4 million<\/li>\n<li>Tax | Airport Service Charges\/Departure Tax: MVR212.8 million<\/li>\n<li>Non-Tax | Rent from Resorts: MVR187.3 million<\/li>\n<li>Non-Tax | Registration and License Fees: MVR168.5 million<\/li>\n<\/ol>\n<h3>Expenditures<\/h3>\n<ul>\n<li>Recurrent: MVR6.55 billion<\/li>\n<li>Capital: MVR3.4 billion<\/li>\n<\/ul>\n<h4>Recurrent &#8211; Salaries and Pensions<\/h4>\n<ul>\n<li>Allowance to Employees: MVR857.8 million<\/li>\n<li>Salaries and Wages: MVR849.5 million<\/li>\n<li>Pensions: MVR318.9 million<\/li>\n<li>Retirement Benefits and Gratuities: MVR120.6 million<\/li>\n<\/ul>\n<h4>Recurrent &#8211; Administrative and Operational Expenses<\/h4>\n<ul>\n<li>Subsidies: MVR997.4 million<\/li>\n<li>Financing and Interest Costs: MVR892.8 million<\/li>\n<li>Aasandha (state-initiated insurance scheme): MVR624.5 million<\/li>\n<li>Administrative Services: MVR469.3 million<\/li>\n<li>Council Grants: MVR458.1 million<\/li>\n<li>Operational Consumables: MVR305.5 million<\/li>\n<li>Administrative Supplies: MVR116.8 million<\/li>\n<li>Training Expenses: MVR73.3 million<\/li>\n<li>Repairs and Maintenance: MVR59.8 million<\/li>\n<li>Travel Expenses: MVR45.7 million<\/li>\n<\/ul>\n<h4>Capital &#8211; Equipment<\/h4>\n<ul>\n<li>Furniture, machinery and equipment: MVR56.9 million<\/li>\n<li>Vehicles: MVR2.6 million<\/li>\n<li>Minor extensions: MVR0.1 million<\/li>\n<\/ul>\n<h4>Capital &#8211; Infrastructure Assets<\/h4>\n<ul>\n<li>Land and Buildings: MVR898.4 million<\/li>\n<li>Roads, Bridges, and Airports: MVR803.8 million<\/li>\n<li>Wharves, Ports, and Harbors: MVR309.9 million<\/li>\n<\/ul>\n<h4>Capital &#8211; Development Projects and Investment Outlays<\/h4>\n<ul>\n<li>Investment Outlays: MVR352.5 million<\/li>\n<li>Development Projects: MVR0.8 million<\/li>\n<\/ul>\n<h4>Capital &#8211; Lending<\/h4>\n<ul>\n<li>Domestic Lending: MVR406.1 million<\/li>\n<li>Foreign Lending: NIL<\/li>\n<\/ul>\n<p>The government has spent MVR788.9 million in repaying its loans. Transfers to Sovereign Development Fund (SDF) during the week stood at MVR220.7 million. The state has spent MVR2.56 billion under the Public Sector Investment Program (PSIP).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>State expenditures reach MVR9.9 billion, revenues inclusive of grants hit MVR7.6 billion; in cumulative terms. The overall balance for the period is a deficit of MVR2.4 billion. Revenues Tax Revenues: MVR6.03 billion Non-Tax Revenues: MVR1.51 billion Capital Receipts: MVR1.6 million Grants: MVR16.4 million Top Revenue Streams Tax | TGST: MVR2.4 billion Tax | Corporate Income<\/p>\n","protected":false},"author":4,"featured_media":5755,"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-5753","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":"<!-- This site is optimized with the Yoast SEO plugin v26.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Expenses at MVR9.9bn, revenues at MVR7.6bn - 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=5753\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Expenses at MVR9.9bn, revenues at MVR7.6bn - Maldives Business Times\" \/>\n<meta property=\"og:description\" content=\"State expenditures reach MVR9.9 billion, revenues inclusive of grants hit MVR7.6 billion; in cumulative terms. 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Revenues Tax Revenues: MVR6.03 billion Non-Tax Revenues: MVR1.51 billion Capital Receipts: MVR1.6 million Grants: MVR16.4 million Top Revenue Streams Tax | TGST: MVR2.4 billion Tax | Corporate Income\" \/>\n<meta property=\"og:url\" content=\"https:\/\/mbt.mv\/?p=5753\" \/>\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=\"2023-04-04T05:52:42+00:00\" \/>\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=5753#article\",\"isPartOf\":{\"@id\":\"https:\/\/mbt.mv\/?p=5753\"},\"author\":{\"name\":\"Mohamed Reehaan\",\"@id\":\"https:\/\/mbt.mv\/#\/schema\/person\/a0eedc1134716e7c8e4da095494670c2\"},\"headline\":\"Expenses at MVR9.9bn, revenues at MVR7.6bn\",\"datePublished\":\"2023-04-04T05:52:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/mbt.mv\/?p=5753\"},\"wordCount\":289,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/mbt.mv\/#organization\"},\"image\":{\"@id\":\"https:\/\/mbt.mv\/?p=5753#primaryimage\"},\"thumbnailUrl\":\"\",\"keywords\":[\"Non Tax Revenue\",\"Public Finance\",\"State Expenditure\",\"State Revenue\",\"Tax Revenue\"],\"articleSection\":[\"FINANCE\",\"PUBLIC SECTOR\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/mbt.mv\/?p=5753#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/mbt.mv\/?p=5753\",\"url\":\"https:\/\/mbt.mv\/?p=5753\",\"name\":\"Expenses at MVR9.9bn, revenues at MVR7.6bn - 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