The cumulative total of state expenditure has hit MVR25.7 billion as of 12 December.
This was confirmed from the latest in Weekly Fiscal Development by Ministry of Finance which also verifies the cumulative total of revenues and grants to state has reached MVR22.3 billion.
With expenditure hovering higher than revenues and grants to state, the overall balance observed a deficit.
According to Ministry of Finance the overall balance was a deficit of MVR3,304.5 million.
As for expenditure, 73% of the total was spent on recurrent with remaining 27% on capital. On the other hand, major revenues to state came through tax sources which takes up 69% of the total with remaining 31% from non-tax sources.
The net issuance for the review period was a surplus of MVR185.1 million, while government securities valued at MVR1,714.7 million matured.
During the same week MVR1.9 billion was issued by state in securities.
Cumulative total of tax revenues has crossed to MVR15.5 billion while non-tax revenues has reached MVR5.9 billion.
Grants to Maldives government has hit MVR1,086.6 million as of review week.
Meanwhile, the cumulative total of recurrent expenditure has hit MVR18.7 billion while capital expenditure was observed at MVR7.0 billion.
As of 12 December, government has settled MVR1,046.1 million in loan repayment while MVR1,303.9 million has been transferred to Sovereign Development Fund (SDF) so far.
