State expenditure has reached an annual total of MVR 35.4 billion as of December 8, according to the Ministry of Finance.
The State revenue has exceeded the projected total revenue for the year already. State earned a cumulative total of MVR 24.9 billion in revenue, including grants.
Meanwhile, the overall balance for the period is a deficit of MVR 10.4 billion.
So far, the State has earned MVR 17.9 billion in tax revenues and another MVR 6.8 billion in non-tax revenues. Grants received by the State amount to MVR 326.4 million.
The highest revenue was generated from GST, Import Duties, Green Tax, BPT and Withholding Tax.
01. TGST - MVR 5.9 billion
02. Import Duties - MVR 3.2 billion
03. GGST - MVR 2.9 billion
04. Business Profit Tax - MVR 2.1 billion
05. Green Tax - MVR 898.5 million
01. Rent from Resorts - MVR 1.6 billion
02. Airport Development Fee - MVR 769.3 million
03. Registration and License Fees - MVR 747.4 million
04. SOE Dividends - MVR 597.8 million
05. Interest and Profits - MVR 371.2 million
Additionally, the State earned MVR 1.8 billion in other fees and charges.
Meanwhile, the State has spent MVR 25.7 billion on recurrent expenses. From the total, MVR 15.5 billion was spent on administrative and operational expenses, and another MVR 10.1 billion was spent on salaries, wages and pensions of the public sector employees.
The State has also spent MVR 9.7 billion on capital expenditures. From this, MVR 6.1 billion was spent on infrastructure assets, including MVR 1.8 billion on land and buildings.
During the review week, the State's loan repayment was observed at MVR 2.7 billion. Transfers to the Sovereign Development Fund (SDF) during the week stood at MVR 768.2 million. The current SDF fund size is MVR 5.3 billion, with its bank balance recorded at MVR 289.6 million.
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