The government has revealed that while MVR 32 billion has been spent as state expenditure so far this year, state revenue has been at MVR 23 billion.
According to the statistical reports released by the Finance Ministry yesterday, this year so far the state has gotten MVR 23.6 billion as revenue. This is a greater amount than the revenue received last year at the same time, which was MVR 17.9 billion.
The revenue received by the state includes USD 16.9 billion in tax revenue, USD 6.5 billion in non-tax revenue, and MVR 322 million received as aid.
While the statistical reports show that so far MVR 32.2 billion has been spent on state expenditure, most of it was spent on recurrent expenditures at MVR 23.6 billion.
MVR 9.2 billion of the recurrent expenditures was spent on the salaries and allowances of civil servants. And MVR 14.4 billion was spent on administrative operations.
Among the state expenses, MVR 8.5 billion was spent on development projects, which is a higher amount than what was spent at the same time last year, which was MVR 7.3 billion.
While state revenue has been increasing since COVID, the government has decided to raise taxes starting next year. According to the government, the tax hike will add an extra MVR 3 billion to state revenue.
According to the statistical reports released by the Finance Ministry yesterday, this year so far the state has gotten MVR 23.6 billion as revenue. This is a greater amount than the revenue received last year at the same time, which was MVR 17.9 billion.
The revenue received by the state includes USD 16.9 billion in tax revenue, USD 6.5 billion in non-tax revenue, and MVR 322 million received as aid.
While the statistical reports show that so far MVR 32.2 billion has been spent on state expenditure, most of it was spent on recurrent expenditures at MVR 23.6 billion.
MVR 9.2 billion of the recurrent expenditures was spent on the salaries and allowances of civil servants. And MVR 14.4 billion was spent on administrative operations.
Among the state expenses, MVR 8.5 billion was spent on development projects, which is a higher amount than what was spent at the same time last year, which was MVR 7.3 billion.
While state revenue has been increasing since COVID, the government has decided to raise taxes starting next year. According to the government, the tax hike will add an extra MVR 3 billion to state revenue.
