According to Ministry of Finance, the year-to-date update on state revenue indicate a total of MVR128.1 million collected as fines by July end.
Moreover, the state body confirms the review period is from January 2021 until July 2021 which had shown an improvement of 48.9% in the review period. As per Ministry of Finance, state collected a total of MVR77.8 million during the same period in 2020.
On the other hand, state received a total of MVR87.2 million as grants from January until July of the current year whereas, during the corresponding period of last year the grant total stood at MVR475.3 million.
Due to sluggish revenue against faster expenditure trends, the state balance gave an overall deficit of MVR5.3 billion.
