State revenue for 2021 has risen to MVR 12.5 billion as of September 16, the finance ministry has revealed.
According to finance ministry data, as of September 16, the state’s revenue had reached MVR 12.5 billion, which is MVR 3 billion less than the MVR 15.5 billion collected in the same period last year.
It also revealed that tax revenue accounted for 73% of total revenue, while non-tax revenue accounted for 27%.
For the period, tax revenue was MVR 9.1 billion, while non-tax revenue totaled MVR 2.9 billion. In addition, MVR 10.9 million in capital receipts and MVR 392.6 million in grants were received.
Moreover, the state’s spending had reached MVR 20.2 billion as of September 16, with recurrent expenditures accounting for 76% of the total. Furthermore, capital spending accounted for MVR 4.8 billion, or 24% of total expenditure.
Government spending had decreased by MVR 8.9 billion in comparison to the same period in 2020.
According to finance ministry figures, the state has so far spent MVR 704.5 million on loan repayments and MVR 2.2 billion on public service investment initiatives in 2021.