According to the latest updates from Ministry of Finance the cumulative total of state expenditures as of 01st December has reached MVR29,941.3 million (MVR29.9 billion).
Meanwhile, the year-to-date total of the state revenues as of the review period reached MVR18,033.4 million (MVR18.0 billion).
Furthermore, expenditure composition confirms 71% of the total have been spent on recurrent needs and the remaining 29% on capital expenses. On the other hand, revenue composition confirms 72% of the total earnings coming from tax sources and the remaining 28% coming from non-tax sources.
Moreover tax sources such as Tourism Goods and Services Tax (TGST), General Goods and Services Tax (GGST) and Business Profit Tax (BPT) are among the strongest sources of revenue to the government.
During the review period, the overall balance is a deficit of MVR11,907.9 million (MVR11.9 billion) owing to comparatively higher expenditures than revenues earned.
The cumulative total of tax revenues as of 01st December reached MVR12,938.2 million (MVR12.9 billion) while the cumulative total of non-tax revenues by the review period hit MVR4,203.9 million (MVR4.2 billion).
So far Maldives government has received a total of MVR886.1 million in grants.
