The government has spent a cumulative total of MVR14.8 billion as of 27th April 2023, according to the Ministry of Finance.
The ministry reported that the cumulative state revenues, inclusive of foreign grants reached MVR10.5 billion by the review date.
![](https://mbt.mv/wp-content/uploads/2023/07/MBT-1110x200-1-1.png)
Owing to higher spending compared to earnings, the overall balance for the period is a deficit of MVR4.4 billion.
Revenue and Grants: 2023 | 2022
- Tax Revenues: MVR7.8 billion | MVR6.7 billion
- Non-Tax Revenues: MVR2.6 billion | MVR2.4 billion
- Capital Receipts: MVR2.2 million | MVR6.6 million
- Grants: MVR72.8 million | MVR206.4 million
- Subsidiary Loan Repayment: (MVR3.1 million) | (MVR126.4 million)
Tax Revenues
- Tourism Goods and Services Tax (TGST): MVR3.3 billion | MVR2.9 billion
- General Goods and Services Tax (GGST): MVR1.2 billion | MVR900.8 million
- Import Duties: MVR904.8 million | MVR1.06 billion
- Corporate Income Tax: MVR862.0 million | MVR483.1 million
- Withholding Tax: MVR418.1 million | MVR336.3 million
Non-Tax Revenues
- Rent from Resorts: MVR523.4 million | MVR682.3 million
- Interest and Profits: MVR432.5 million | MVR213.0 million
- Airport Development Fee: MVR302.4 million | MVR269.3 million
- Registration and License Fees: MVR256.7 million | MVR251.1 million
- SOE Dividends: MVR197.6 million | MVR106.5 million
Expenditure: 2023 | 2022
- Recurrent Expenditure: MVR10.3 billion | MVR8.9 billion
- Capital Expenditure: MVR4.5 billion | MVR3.3 billion
Recurrent Expenditure
- Administrative and Operational Expenses: MVR6.5 billion | MVR5.3 billion
- Salaries, Wages, and Pensions: MVR3.7 billion | MVR3.6 billion
- Losses and Write-offs: MVR99.3 million | MVR6.6 million
Capital Expenditure
- Infrastructure Assets: MVR2.2 billion | MVR1.5 billion
- Land and Buildings: MVR1.18 billion | MVR537.8 million
- Development Projects and Investment Outlays: MVR580.8 million | MVR901.9 million
- Lending: MVR416.3 million | MVR189.4 million
- Capital Equipment: MVR104.8 million | MVR114.5 million
Memorandum Items: 2023 | 2022
- Loan Repayment: MVR857.2 million | MVR700.5 million
- Transfers to Sovereign Development Fund (SDF): MVR303.7 million | MVR269.3 million
- Public Sector Investment Program (PSIP): MVR4.0 billion | MVR2.19 billion
- Councils Block Grant Disbursements: MVR612.1 million | MVR535.5 million
*all aforementioned figures are the cumulative total as of 27th April 2023, and 27th April 2022 respectively
![](https://mbt.mv/wp-content/uploads/2022/10/Group-100.png)