The Edition


Govt collects over MVR10 bln in revenue

07 August 2018, MVT 09:19
07 August 2018, MVT 09:19

Maldives has recorded state revenue of MVR 10 billion in the first six month of 2018, with MVR 11 billion spent as expenditure.

According to statistics released by the Ministry of Finance and Treasury, MVR 8.2 billion was spent under state administrative costs with an additional MVR 2.8 billion spent on state-sponsored projects.

The statistic further revealed that government's expenditure was majorly spent on civil servant salaries, benefits, and pensions.

Through the end of the first half of 2018, MVR4.5 billion was spent for the aforementioned purposes with additional administrative costs raking in a sum of MVR3.6 billion.

The state received MVR8.1 billion in tax revenue, out of which MVR2.5 billion was collected as non-tax revenue.

The annual state budget of MVR 27.9 billion for 2018 projected MVR22.4 billion as revenue and free aid.