Govt Expenditure Reaches MVR 18 Billion for the Year

The Ministry of Finance has released the latest weekly fiscal developments report, outlining the cumulative expenditure and revenue for the government during 2021.

According to the report, the cumulative expenditure for the period is MVR 18,149.0 million. The majority of expenditure during this period was spent on recurrent expenditure; Salaries and Wages, and Allowances to Employees and COVID-19 response.

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The cumulative revenue and grants for the period, 01 January to 26 August is MVR 11,268.0 million. Most significant receipts were received from tax revenues; TGST, GGST, and BPT.

The overall balance for the period is a deficit of MVR 6,881.0 million, as expenditure incurred was greater than revenue received during the period.

Net issuance for the week, 22 to 26 August 2021, was a surplus of MVR 393.8. Government Securities worth MVR 400.1 million were issued, while Securities worth MVR 6.3 million matured.

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