The Edition


Govt records total revenue of MVR12.8 bln by July end

Fathmath Shaahunaz
10 September 2017, MVT 18:02
Treasury building which houses the Ministry of Finance and Treasury in capital Male.
Fathmath Shaahunaz
10 September 2017, MVT 18:02

The Maldives recorded a total state revenue of MVR 12.8 billion by the end of July this year, while government expenditure has reached MVR 10.7 billion.

Statistics published by the Ministry of Finance and Treasury show that the revenue sans expenditure stands at MVR 2.1 billion. The highest government expenditure so far this year was for recurrent expenses, which amount to MVR 7.9 billion.

According to the finance ministry, the government spent MVR 725 million as salaries, allowances and pension during the month of July alone, while operation costs and other expenses were at MVR 525.6 million. The state has thus spent MVR 1.9 billion so far this year, with a capital expenditure of total MVR 635.1 million.

The ministry’s statistics show that the state earned a revenue of MVR 2.6 billion last July, while expenditures were at MVR 1.9 billion in that month.

The finance ministry’s State Budget for this year, passed by the parliament, estimates that the government will rake in a revenue of MVR 21.9 billion this year while expenditures are expected to reach MVR 22.2 billion.