As per the statistics released by the Finance Ministry, the government’s overall expenditure this year has reached MVR 7.2 billion.
The majority of the total expenditure comprises MVR 5.3 billion spent on recurrent expenditure. Remaining MVR 1.8 billion was spent on capital expenditure. Majority of this includes salaries, wages and pensions expenses worth MVR 1.1 billion, another MVR 1.1 billion on subsidies and other aids, and MVR 293.4 million on loan repayments.
Government has collected MVR 5.4 billion as revenue so far this year. The overall revenue comprises MVR 4.3 billion as tax revenue, and the remaining MVR 1 billion from non-tax revenue.
The biggest injection to tax revenue came from Goods and Service Tax (GST) worth MVR 3.4 billion. Moreover, the Government received MVR 1.1 billion as Business and Property Tax, and MVR 594.3 million as import duty.
Meanwhile, non tax revenue worth MVR 2 billion was collected through fees and charges.