{"id":6111,"date":"2023-05-21T10:18:17","date_gmt":"2023-05-21T05:18:17","guid":{"rendered":"https:\/\/mbt.mv\/?p=6111"},"modified":"2023-05-21T10:18:17","modified_gmt":"2023-05-21T05:18:17","slug":"state-expenditure-at-mvr16-5b-revenues-at-mvr12-3b","status":"publish","type":"post","link":"https:\/\/mbt.mv\/?p=6111","title":{"rendered":"State expenditure at MVR16.5b, revenues at MVR12.3b"},"content":{"rendered":"<p>The cumulative total of state expenditure has reached MVR 16.5 billion as of 11th May 2023, reports the Ministry of Finance.<\/p>\n<p>According to the ministry, the cumulative total of state revenues as of the review date stood at MVR12.3 billion.<\/p>\n<p>The government has utilized 67% of its budget on recurrent needs and the remaining 33% on capital needs. On the other hand, state earned 75% of its revenue from tax sources and the remaining 25% from non-tax sources.<\/p>\n<p>The overall balance for the period is a deficit of MVR4.2 billion.<\/p>\n<h4>Revenues and Grants<\/h4>\n<ul>\n<li>Tax Revenues: MVR 9.2 billion<\/li>\n<li>Non-Tax Revenues: MVR2.9 billion<\/li>\n<li>Capital Receipts: MVR2.9 million<\/li>\n<li>Grants: MVR147.2 million<\/li>\n<\/ul>\n<h5>Top Tax Revenue Sources<\/h5>\n<ol>\n<li>Tourism Goods and Services Tax (TGST): MVR3.9 billion<\/li>\n<li>General Goods and Services Tax (GGST): MVR1.5 billion<\/li>\n<li>Import Duties: MVR1.2 billion<\/li>\n<li>Corporate Income Tax: MVR875.7 million<\/li>\n<li>Withholding Tax: MVR434.9 million<\/li>\n<\/ol>\n<h5>Top Non-Tax Revenue Sources<\/h5>\n<ol>\n<li>Interest and Profits: MVR603.4 million<\/li>\n<li>Rent from Resorts: MVR523.9 million<\/li>\n<li>Airport Development Fee: MVR381.4 million<\/li>\n<li>Registration and License Fees: MVR279.0 million<\/li>\n<li>SOE Dividends: MVR197.6 million<\/li>\n<\/ol>\n<h4>Recurrent Expenditure &#8211; MVR11.1 billion<\/h4>\n<ul>\n<li>Salaries, Wages, and Pensions: MVR3.9 billion<\/li>\n<li>Administrative and Operational Expenses: MVR7.1 billion<\/li>\n<li>Losses and Write-offs: MVR100.9 million<\/li>\n<\/ul>\n<h4>Capital Expenditure &#8211; MVR5.4 billion<\/h4>\n<ul>\n<li>Capital Equipment: MVR166.8 million<\/li>\n<li>Land and Buildings: MVR1.3 billion<\/li>\n<li>Infrastructure Assets: MVR2.9 billion<\/li>\n<li>Development Projects and Investment Outlays: MVR584.1 million<\/li>\n<li>Lending: MVR431.4 million<\/li>\n<\/ul>\n<p>So far, the government has settled MVR957.6 million in loan repayment. The budget loan repayment total for 2023 is MVR2.1 billion.<\/p>\n<p>The state&#8217;s Public Sector Investment Program (PSIP) spending is now at MVR4.2 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The cumulative total of state expenditure has reached MVR 16.5 billion as of 11th May 2023, reports the Ministry of Finance. According to the ministry, the cumulative total of state revenues as of the review date stood at MVR12.3 billion. The government has utilized 67% of its budget on recurrent needs and the remaining 33%<\/p>\n","protected":false},"author":4,"featured_media":6112,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2423,2428],"tags":[],"class_list":{"0":"post-6111","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"category-public-sector"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>State expenditure at MVR16.5b, revenues at MVR12.3b - 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=6111\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"State expenditure at MVR16.5b, revenues at MVR12.3b - Maldives Business Times\" \/>\n<meta property=\"og:description\" content=\"The cumulative total of state expenditure has reached MVR 16.5 billion as of 11th May 2023, reports the Ministry of Finance. According to the ministry, the cumulative total of state revenues as of the review date stood at MVR12.3 billion. The government has utilized 67% of its budget on recurrent needs and the remaining 33%\" \/>\n<meta property=\"og:url\" content=\"https:\/\/mbt.mv\/?p=6111\" \/>\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=\"2023-05-21T05:18:17+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=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/mbt.mv\/?p=6111#article\",\"isPartOf\":{\"@id\":\"https:\/\/mbt.mv\/?p=6111\"},\"author\":{\"name\":\"Mohamed Reehaan\",\"@id\":\"https:\/\/mbt.mv\/#\/schema\/person\/a0eedc1134716e7c8e4da095494670c2\"},\"headline\":\"State expenditure at MVR16.5b, revenues at MVR12.3b\",\"datePublished\":\"2023-05-21T05:18:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/mbt.mv\/?p=6111\"},\"wordCount\":257,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/mbt.mv\/#organization\"},\"image\":{\"@id\":\"https:\/\/mbt.mv\/?p=6111#primaryimage\"},\"thumbnailUrl\":\"\",\"articleSection\":[\"BUSINESS\",\"PUBLIC SECTOR\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/mbt.mv\/?p=6111#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/mbt.mv\/?p=6111\",\"url\":\"https:\/\/mbt.mv\/?p=6111\",\"name\":\"State expenditure at MVR16.5b, revenues at MVR12.3b - Maldives Business Times\",\"isPartOf\":{\"@id\":\"https:\/\/mbt.mv\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/mbt.mv\/?p=6111#primaryimage\"},\"image\":{\"@id\":\"https:\/\/mbt.mv\/?p=6111#primaryimage\"},\"thumbnailUrl\":\"\",\"datePublished\":\"2023-05-21T05:18:17+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/mbt.mv\/?p=6111#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/mbt.mv\/?p=6111\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/mbt.mv\/?p=6111#primaryimage\",\"url\":\"\",\"contentUrl\":\"\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/mbt.mv\/?p=6111#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/mbt.mv\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"State expenditure at MVR16.5b, revenues at MVR12.3b\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/mbt.mv\/#website\",\"url\":\"https:\/\/mbt.mv\/\",\"name\":\"Maldives Business Times\",\"description\":\"Maldives Business Times delivers timely and in-depth English news on business, economy, and breaking events in the Maldives.\",\"publisher\":{\"@id\":\"https:\/\/mbt.mv\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/mbt.mv\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/mbt.mv\/#organization\",\"name\":\"Maldives Business Times\",\"url\":\"https:\/\/mbt.mv\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/mbt.mv\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/mbt.mv\/wp-content\/uploads\/2025\/02\/background_removed_image_x5KLRjOsQMGL6jgPS4Hiew.png\",\"contentUrl\":\"https:\/\/mbt.mv\/wp-content\/uploads\/2025\/02\/background_removed_image_x5KLRjOsQMGL6jgPS4Hiew.png\",\"width\":1312,\"height\":736,\"caption\":\"Maldives Business Times\"},\"image\":{\"@id\":\"https:\/\/mbt.mv\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/mvbiztimes\",\"https:\/\/x.com\/mvbiztimes\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/mbt.mv\/#\/schema\/person\/a0eedc1134716e7c8e4da095494670c2\",\"name\":\"Mohamed Reehaan\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/mbt.mv\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/ac0f3a9111db774c387735910f0eeee4432a0db79cc936fe00f3f0fb05f1af6c?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/ac0f3a9111db774c387735910f0eeee4432a0db79cc936fe00f3f0fb05f1af6c?s=96&d=mm&r=g\",\"caption\":\"Mohamed Reehaan\"},\"url\":\"https:\/\/mbt.mv\/?author=4\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"State expenditure at MVR16.5b, revenues at MVR12.3b - Maldives Business Times","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/mbt.mv\/?p=6111","og_locale":"en_US","og_type":"article","og_title":"State expenditure at MVR16.5b, revenues at MVR12.3b - Maldives Business Times","og_description":"The cumulative total of state expenditure has reached MVR 16.5 billion as of 11th May 2023, reports the Ministry of Finance. According to the ministry, the cumulative total of state revenues as of the review date stood at MVR12.3 billion. The government has utilized 67% of its budget on recurrent needs and the remaining 33%","og_url":"https:\/\/mbt.mv\/?p=6111","og_site_name":"Maldives Business Times","article_publisher":"https:\/\/www.facebook.com\/mvbiztimes","article_published_time":"2023-05-21T05:18:17+00:00","author":"Mohamed Reehaan","twitter_card":"summary_large_image","twitter_creator":"@mvbiztimes","twitter_site":"@mvbiztimes","twitter_misc":{"Written by":"Mohamed Reehaan","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/mbt.mv\/?p=6111#article","isPartOf":{"@id":"https:\/\/mbt.mv\/?p=6111"},"author":{"name":"Mohamed Reehaan","@id":"https:\/\/mbt.mv\/#\/schema\/person\/a0eedc1134716e7c8e4da095494670c2"},"headline":"State expenditure at MVR16.5b, revenues at MVR12.3b","datePublished":"2023-05-21T05:18:17+00:00","mainEntityOfPage":{"@id":"https:\/\/mbt.mv\/?p=6111"},"wordCount":257,"commentCount":0,"publisher":{"@id":"https:\/\/mbt.mv\/#organization"},"image":{"@id":"https:\/\/mbt.mv\/?p=6111#primaryimage"},"thumbnailUrl":"","articleSection":["BUSINESS","PUBLIC SECTOR"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/mbt.mv\/?p=6111#respond"]}]},{"@type":"WebPage","@id":"https:\/\/mbt.mv\/?p=6111","url":"https:\/\/mbt.mv\/?p=6111","name":"State expenditure at MVR16.5b, revenues at MVR12.3b - Maldives Business Times","isPartOf":{"@id":"https:\/\/mbt.mv\/#website"},"primaryImageOfPage":{"@id":"https:\/\/mbt.mv\/?p=6111#primaryimage"},"image":{"@id":"https:\/\/mbt.mv\/?p=6111#primaryimage"},"thumbnailUrl":"","datePublished":"2023-05-21T05:18:17+00:00","breadcrumb":{"@id":"https:\/\/mbt.mv\/?p=6111#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/mbt.mv\/?p=6111"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/mbt.mv\/?p=6111#primaryimage","url":"","contentUrl":""},{"@type":"BreadcrumbList","@id":"https:\/\/mbt.mv\/?p=6111#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/mbt.mv\/"},{"@type":"ListItem","position":2,"name":"State expenditure at MVR16.5b, revenues at MVR12.3b"}]},{"@type":"WebSite","@id":"https:\/\/mbt.mv\/#website","url":"https:\/\/mbt.mv\/","name":"Maldives Business Times","description":"Maldives Business Times delivers timely and in-depth English news on business, economy, and breaking events in the Maldives.","publisher":{"@id":"https:\/\/mbt.mv\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/mbt.mv\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/mbt.mv\/#organization","name":"Maldives Business Times","url":"https:\/\/mbt.mv\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/mbt.mv\/#\/schema\/logo\/image\/","url":"https:\/\/mbt.mv\/wp-content\/uploads\/2025\/02\/background_removed_image_x5KLRjOsQMGL6jgPS4Hiew.png","contentUrl":"https:\/\/mbt.mv\/wp-content\/uploads\/2025\/02\/background_removed_image_x5KLRjOsQMGL6jgPS4Hiew.png","width":1312,"height":736,"caption":"Maldives Business Times"},"image":{"@id":"https:\/\/mbt.mv\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/mvbiztimes","https:\/\/x.com\/mvbiztimes"]},{"@type":"Person","@id":"https:\/\/mbt.mv\/#\/schema\/person\/a0eedc1134716e7c8e4da095494670c2","name":"Mohamed Reehaan","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/mbt.mv\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/ac0f3a9111db774c387735910f0eeee4432a0db79cc936fe00f3f0fb05f1af6c?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ac0f3a9111db774c387735910f0eeee4432a0db79cc936fe00f3f0fb05f1af6c?s=96&d=mm&r=g","caption":"Mohamed Reehaan"},"url":"https:\/\/mbt.mv\/?author=4"}]}},"_links":{"self":[{"href":"https:\/\/mbt.mv\/index.php?rest_route=\/wp\/v2\/posts\/6111","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mbt.mv\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mbt.mv\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mbt.mv\/index.php?rest_route=\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/mbt.mv\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6111"}],"version-history":[{"count":0,"href":"https:\/\/mbt.mv\/index.php?rest_route=\/wp\/v2\/posts\/6111\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mbt.mv\/index.php?rest_route=\/"}],"wp:attachment":[{"href":"https:\/\/mbt.mv\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6111"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mbt.mv\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6111"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mbt.mv\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6111"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}