Expenses decreasing, reform actions effective

State expenditure has decreased as a result of economic reform actions taken by the government.

Weekly financial statistics published by the Ministry of Finance show that the State's largest recurrent expenses up till June 20 was at MVR 14.2 billion.

This is an MVR 900 million decrease compared to the same period last year.

State expenses on remuneration have also gone down in this period. While last year, MVR 5.9 billion was spent on salaries and pensions during this period, this year's figures are at MVR 5.5 billion.

Administrative expenses show the highest amounts spent on Aasandha and subsidies, which also marked a decrease this year.

Last year, MVR 1.1 billion was spent on Aasandha, while upto June 20 this year, the number is at MVR 900 million. Subsidies cost MVR 1.9 billion last year, and MVR 1.7 billion this year in the same period.

In addition to recurrent costs, capital expenditure has also decreased by approximately MVR 3 billion.

Tax revenue compared to state revenue has increased by June 20 this year, but total revenue is less compared to the same period last year.

The total revenue of MVR 15.4 billion in this period this year indicates a decrease of approximately MVR 1 billion compared to last year.