State Revenue Increases by MVR 3 Billion Within a Year

The government’s revenue has increased by MVR 3 billion within a year.

According to the Finance Ministry’s Weekly Fiscal Developments statistics, the cumulative revenue and grants for the period, 01 January to 30 June 2022 is MVR 13.1 billion. This is about an increase of about MVR 3 billion compared to the same period last year, whereby revenue stood at MVR 10 billion as of June 2021.

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The most significant receipts were received from tax revenues. MVR 9 billion has been collected as taxes thus far this year, compared to MVR 7 billion collected during the same period last year. Non-tax revenue received this year stood at MVR 3.4 billion.

However, the revenue generated in the form of grants as of June this year declined to MVR 197.7 million compared to the MVR 418.1 million received during the same period last year.

This year’s budget forecasts a total revenue of MVR 24, billion, including a tax revenue of MVR 15 billion.

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