After resolving the issues that came up in recording expenses, the Ministry of Finance has recommenced publishing the Weekly Fiscal Development Report.
After resolving the issues that came up in recording expenses, the Ministry of Finance has recommenced publishing the Weekly Fiscal Development Report.
In the report published last night, MVR 40 billion from the State budget has been spent so far this year. Of this, MVR 27 billion was spent on recurrent expenses. Amongst recurrent expenses, MVR 10.3 billion was spent on salaries and allowances. This is an increase of MVR 2 billion compared to the same period last year.
Finance Ministry said that the expenditure on salaries had increased due to salaries of Police, MNDF officers, and sectors where pay harmonization was earlier implemented.
State revenue so far this year is at MVR 28 billion. This is an increase of MVR 400 million from revenues recorded in the same period last year. Tax income is also up by MVR 1.7 billion this year.
Capital expenditure till now this year is at MVR 10.5 billion, which is approximately MVR 1.5 billion higher than last year.
MVR 2 billion has also been spent on loan repayment, and MVR 1.9 billion disbursed as aid to councils.
The ministry last night shared the reports for the past 18 weeks separately on their website. They earlier said that the reports had been halted due to issues in records, and that they were resuming with the advice of the Auditor General.
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