The cumulative total of state expenditure was recorded at MVR4,536.7 million (MVR4.5 billion) as of 12 March 2020, according to Ministry of Finance.
The ministry's Weekly Fiscal Development further reported the cumulative total of revenues, including foreign grant, has reached MVR4,133.9 million (MVR4.1 billion).
Expenditure composition shows 70% of the total was spent on recurrent expenses and the remaining 30% on capital expenditure.
Revenue composition shows, tax revenues had largely factored in for the state's income with a staggering 87% of the total while a mere 13% had accounted for revenues generated from non-tax streams.
Tax sources such as TGST, GGST and BPT maintained their place as strongest revenue churners to government.
The overall balance for the review week was a deficit of MVR402.8 million with expenditure soaring over revenue earned. On the other hand, there was no net issuance for the week.
Meanwhile, the cumulative total of tax revenues have already reached MVR3,588.8 million (MVR3.6 billion) and the non-tax revenue has made a cumulative collection of MVR531.5 milllion.
Grants received to Maldives government, on year-to-date basis, shows it has reached MVR14.3 million.
The recurrent expenditure has hit MVR3,187.6 million (MVR3.2 billion) while capital expenditure has reached MVR1,349.1 million.
State has settled MVR300.0 million in loan repayment while MVR146.2 million was transferred to Sovereign Development Fund (SDF).
