The Ministry of Finance has released its weekly fiscal developments report, outlining the cumulative expenditure and revenue of the Maldivian government so far this year.
According to the report, as of 7th October 2021, the cumulative expenditure for the period is MVR 22,606.3 million. The majority of expenditure during this period (77 percent) was spent on recurrent expenditure; Salaries and Wages, and Allowances to Employees and other expenses for COVID-19 response. 23 percent was spent on capital expenditure.
Furthermore, the cumulative revenue and grants for the period, 01 January to 07 October is MVR 14,971.9 million. Most significant receipts were received from tax revenues; TGST, GGST, and BPT.
The overall balance for the period is a deficit of MVR 7,634.4 million, as expenditure incurred was greater than revenue received during the period.