Maldives government's expenditure, on year-to-date basis has been recorded at MVR3,871.3 million (MVR3.8 billion) as of 27 February 2020.
According to Ministry of Finance, on their Weekly Fiscal Development, the revenue earned to Maldives government (inclusive of grants) as of the review week was observed at MVR3,430.6 million (MVR3.4 billion).
The statistics further revealed 71% of the total expenditure was spent on recurrent expenses while 29% was spent on capital expenses.
As for the revenue composition, 86% of earnings came through tax sources while the remaining 14% was generated from non-tax sources.
The overall balance for the review period was a deficit of MVR440.7 million with expenditure higher than revenue earned.
Net issuance for the week, from 23 to 27 February 2020 was a surplus of MVR574.0 million.
Grants received by the review period was at MVR2.3 million.
The cumulative total of tax revenues reached MVR2,956.6 million as of 27 February, while the cumulative total of non-tax revenues reached MVR470.0 million.
On the other hand, the cumulative total of recurrent expenditure has reached MVR2,758.8 million whereas capital expenditure has hit MVR1,112.5 million.
As of 27 February 2020, state has settled MVR126.3 million in loan repayment while MVR142.4 million has been transferred to the Sovereign Development Fund (SDF).
