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First week expenses at MVR 520 million, revenue at MVR 615 million

Lamya Abdulla
08 December 2023, MVT 17:28
(FILE) Finance Ministry building -- Photo: Mihaaru
Lamya Abdulla
08 December 2023, MVT 17:28

The current administration spent MVR 520 million in their first week in office, while they generated an income of MVR 614.5 million.

According to the data released by the Finance Ministry, the majority of the expenditure was on paying salaries to employees. A sum of MVR 314 million has been spent on salaries, allowances, and government operating expenses. A significant portion of this expenditure was allocated to subsidies, with the total amounting to MVR 186 million.

A total of MVR 206 million was spent on projects, with MVR 185 million allocated to initiatives such as road construction.

In the last week, MVR 261 million has been collected as taxes. The government has also gathered MVR 53 million as non-tax revenue, while receiving MVR 1.1 million as grant-in-aid.

So far this year, MVR 42 billion has been spent in the budget. In the current fiscal year, MVR 49.3 billion has been spent, achieved by adding MVR 6.5 billion to the supplementary budget.

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