{"id":6891,"date":"2023-09-17T21:22:48","date_gmt":"2023-09-17T16:22:48","guid":{"rendered":"https:\/\/mbt.mv\/?p=6891"},"modified":"2023-09-17T21:22:48","modified_gmt":"2023-09-17T16:22:48","slug":"expenditures-hit-mvr30-8bn-revenues-sluggish-at-mvr-22-9bn","status":"publish","type":"post","link":"https:\/\/mbt.mv\/?p=6891","title":{"rendered":"Expenditures hit MVR30.8bn, revenues sluggish at MVR 22.9bn"},"content":{"rendered":"<p>The year-to-date total of state expenditure reached MVR 30.8 billion as of September 07, reported the Ministry of Finance.<\/p>\n<p>According to the ministry&#8217;s most recent statistics as of the review date, the cumulative total of state revenues remain sluggish compared to the stronger expenditure gains. The state generated a year-to-date total of MVR 22.9 billion by the review date.<\/p>\n<p>So far, the government has spent 68% of its budgetary total on recurrent expenses and the remaining 32% on capital needs. On the other hand, state earned 76% of its revenue from tax sources while the remaining 24% came through non-tax sources.<\/p>\n<p>With a significant difference between state expenditure and revenue, the overall balance for the period is a deficit of MVR 7.8 billion.<\/p>\n<h1>Revenue and Grants<\/h1>\n<ul>\n<li>Tax Revenues: MVR 17.5 billion<\/li>\n<li>Non-tax Revenues: MVR 5.14 billion<\/li>\n<li>Capital Receipts: MVR 3.9 million<\/li>\n<li>Grants: MVR 352.5 million<\/li>\n<\/ul>\n<h1>Recurrent Expenditure<\/h1>\n<ul>\n<li>Salaries, Wages and Pensions: MVR 7.9 billion<\/li>\n<li>Administrative and Operational Expenses: MVR 12.8 billion<\/li>\n<li>Losses and Write-Offs: MVR 350.8 million<\/li>\n<\/ul>\n<h1>Capital Expenditure<\/h1>\n<ul>\n<li>Capital Equipment: MVR 340.0 million<\/li>\n<li>Land and Buildings: MVR 2.6 billion<\/li>\n<li>Infrastructure Assets: MVR 5.04 billion<\/li>\n<li>Development Projects and Investment Outlays: MVR 1.1 billion<\/li>\n<li>Lending: MVR 733.7 million<\/li>\n<\/ul>\n<h1>Memorandum Items<\/h1>\n<ul>\n<li>Loan Repayment: MVR 1.8 billion<\/li>\n<li>Subscription to Multilateral Agencies: MVR 10.5 million<\/li>\n<li>Transfers to Sovereign Development Fund (SDF): MVR 693.5 million<\/li>\n<li>Public Sector Investment Program (PSIP): MVR 7.8 billion<\/li>\n<li>Councils Block Grant Disbursements: MVR 1.3 billion<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The year-to-date total of state expenditure reached MVR 30.8 billion as of September 07, reported the Ministry of Finance. According to the ministry&#8217;s most recent statistics as of the review date, the cumulative total of state revenues remain sluggish compared to the stronger expenditure gains. The state generated a year-to-date total of MVR 22.9 billion<\/p>\n","protected":false},"author":4,"featured_media":6259,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2424,2428],"tags":[1481,1603,1976,1981,2038],"class_list":{"0":"post-6891","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-finance","8":"category-public-sector","9":"tag-ministry-of-finance","10":"tag-non-tax-revenue","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>Expenditures hit MVR30.8bn, revenues sluggish at MVR 22.9bn - 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=6891\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Expenditures hit MVR30.8bn, revenues sluggish at MVR 22.9bn - Maldives Business Times\" \/>\n<meta property=\"og:description\" content=\"The year-to-date total of state expenditure reached MVR 30.8 billion as of September 07, reported the Ministry of Finance. According to the ministry&#8217;s most recent statistics as of the review date, the cumulative total of state revenues remain sluggish compared to the stronger expenditure gains. The state generated a year-to-date total of MVR 22.9 billion\" \/>\n<meta property=\"og:url\" content=\"https:\/\/mbt.mv\/?p=6891\" \/>\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=\"2023-09-17T16:22:48+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=6891#article\",\"isPartOf\":{\"@id\":\"https:\/\/mbt.mv\/?p=6891\"},\"author\":{\"name\":\"Mohamed Reehaan\",\"@id\":\"https:\/\/mbt.mv\/#\/schema\/person\/a0eedc1134716e7c8e4da095494670c2\"},\"headline\":\"Expenditures hit MVR30.8bn, revenues sluggish at MVR 22.9bn\",\"datePublished\":\"2023-09-17T16:22:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/mbt.mv\/?p=6891\"},\"wordCount\":220,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/mbt.mv\/#organization\"},\"image\":{\"@id\":\"https:\/\/mbt.mv\/?p=6891#primaryimage\"},\"thumbnailUrl\":\"\",\"keywords\":[\"Ministry of Finance\",\"Non Tax Revenue\",\"State Expenditure\",\"State Revenue\",\"Tax Revenue\"],\"articleSection\":[\"FINANCE\",\"PUBLIC SECTOR\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/mbt.mv\/?p=6891#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/mbt.mv\/?p=6891\",\"url\":\"https:\/\/mbt.mv\/?p=6891\",\"name\":\"Expenditures hit MVR30.8bn, revenues sluggish at MVR 22.9bn - 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