Recurrent state expenditure has climbed by MVR 2 billion compared to the same period in 2020, the latest weekly fiscal report from the finance ministry has revealed.
Total state expenditure in 2021 was MVR 18.1 billion as on August 26, according to the finance ministry, with 78% (or MVR 14 billion) spent on recurrent expenditure and 22% (or MVR 4 billion) spent on capital investment.
According to the report, salaries, wages, and pensions accounted for MVR 6.4 billion of recurrent expenditure, while administrative and operational expenses accounted for MVR 7.5 billion.
The MVR 14 billion spent on recurring state expenditure in 2021 represents an MVR 2 billion increase above the MVR 12 billion spent in the same period in 2020.
Furthermore, as of August 26, total revenue and grants received in 2021 were MVR 11.2 billion, with 74% being tax revenue and 26% being non-tax revenue, resulting in an MVR 6.8 billion deficit.
