Ministry of Finance reports state has reached MVR 32.2 billion in annual terms, as of November 17, 2022.
The approved expenditure for the year is MVR 34.1 billion. With this, state's spending is currently just MVR 1.9 billion shy of reaching approved total expenditure for the current fiscal year.
State earnings reached MVR23.7 billion by the review date. The projected revenue total for the year is MVR 23.3 billion.
With the current earning, state's total revenue for the year is short of MVR 584.1 million of hitting the projected total.
Owing to higher spending against comparatively lower earnings, the overall balance for the period is a deficit of MVR 8.5 billion.
Tax revenues in cumulative terms has reached MVR 16.95 billion by the review date. Non-tax revenues in cumulative terms reached MVR 6.6 billion by November 17, 2022.
Grants to the state is currently at MVR 322.4 million.
Recurrent expenditure of the state is currently at MVR 23.7 billion, and capital expenditure is now at MVR 8.5 billion.