The Maldives state revenue, inclusive of foreign grants, was at MVR394.8 million in June 2020 as per the country's Ministry of Finance.
According to the ministry, publicized on their Monthly Fiscal Development, the expenditure for the review month reached MVR2,176.0 million (MVR2.2 billion).
Ministry of Finance in their report claim state revenue inclusive of foreign grants saw a decline by 78.2 percent during the review month in comparison with the same month in 2019. The decline is primarily resultant from a fall of MVR1,106.7 million in tax revenues.
Similarly, non-tax revenues saw a comparative decline by MVR297.8 million owning to the fall in property income receipts.
On the other hand, total expenditure for June 2020 saw a decline of 6.4 percent when compared with the corresponding month in 2019. Recurrent expenditure observed a drop by MVR117.5 million while capital expenditure saw a decline by 3.6% mainly due to low expenditure on infrastructure assets.
Moreover, the ministry reports the fiscal balance for the review month gives an overall deficit of MVR1,781.1 million (MVR1.8 billion).
During June 2020, state collected MVR132.3 million in Goods and Services Tax (GST) and another MVR46.1 million in Business and Property Tax.
