The latest statistics by the Ministry of Finance reveal that as of 1st April 2021, government expenditure is at MVR 6,575.9 million while total revenue and grants is at MVR 5,006.9 million.
According to the most recent Weekly Fiscal Developments publication, the bulk of government expenditure for the period 1st January to 1st April is recurrent, at 74 percent of the total cumulative expenditure. This includes salaries, wages, and allowances to employees and spending on COVID-19 response efforts. Meanwhile, 26 percent of the total expenditure is attributed to capital expenditure.
The cumulative revenue and grants for the period is MVR 5,006.9 million. Most significant receipts were received from tax revenues including TGST, GGST, and BPT.
The overall balance for the period is a deficit of MVR 1,569.0 million, as expenditure incurred was greater than revenue received during the period.
Net issuance for the week, 28th March to 1st April 2021, was MVR 162.0 million. Over the review period, MVR 2,038.0 million worth of securities matured, and MVR 2,200.0 million worth of additional securities were issued.