The most recent update from Ministry of Finance confirms a noticeable improvement in cumulative state revenues.
According to the statistics, cumulative state revenues inclusive of grants increased to MVR8,509.0 million by 21st April from MVR7,926.4 million on 14th April 2022.
Meanwhile, cumulative state expenditure increased from MVR10,130.4 million in the previous review date to MVR10,530.4 million by 21st April.
Expenditure composition confirms that 73 percent of the budget has been focused on recurrent needs and the remaining 27 percent on capital expenses.
On the other hand, 69 percent of the total revenues came from tax sources with the remaining 31 percent earned from non tax sources.
Meanwhile, cumulative total of tax revenues increased from MVR5,547.3 million in 14th April to MVR5,859.3 million by the most recent review date.
The cumulative total of non tax revenues shifted from MVR2,418.6 million during the previous review date to MVR2,687.1 million by the current review date; observing a slight upward movement.
So far, state has spent MVR7,685.4 million on recurrent expenditure with MVR2,772.3 million of this spent on salaries, wages and pensions of public sector employees and MVR4,908.9 million out of the recurrent expenditure total spent on administrative and operational expenses.
The Sovereign Development Fund transfers by 21st April stood at MVR149.9 million while the SDF fund is currently sized at MVR4,084.5 million.
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