The Edition


Revenue at MVR8.7 bln, expenditure at MVR7 bln by May end

Fathmath Shaahunaz
02 July 2017, MVT 13:22
Finance minister Ahmed Munawar speaks at parliament about State Budget 2017. PHOTO/MAJLIS
Fathmath Shaahunaz
02 July 2017, MVT 13:22

The Maldives recorded a revenue of MVR 8.7 billion by the end of May this year while government expenditure has reached MVR 7 billion.

According to statistics released by the Ministry of Finance and Treasury, the revenue earned after expenditure cut is MVR 1.7 billion so far this year. The highest expenditure was in recurrent expenditures amounting to total MVR 5.5 billion by the end of May.

The monthly statistics show that the finance ministry spent MVR 788 million as salary, allowance and pension in May, while operations and other costs amounted to MVR 441 million. The total expenditure in May was MVR 1.2 billion with a capital expenditure of MVR 260.7 million.

The state’s revenue for the month of May was MVR 1.7 billion while government expenditure was MVR 1.4 billion.

The State Budget 2017 passed by the parliament projects a revenue of MVR 21.9 billion and expenditure of MVR 22.2 billion for this year.