Economic Update: Public Finance
Thursday 7th of November 2019
October Economic Update- Public Finance
In August 2019, total government revenue (excluding grants) decreased by MVR200.5 million, compared to August 2018. Revenue generated through tax decreased by MVR85.8 million and non-tax revenue decreased by MVR99.7 million.
Total government expenditure (excluding amortization: spreading the cost over a time period) had an annual decline by MVR157.9 million (8%) in August 2019. This was due to the reduction in recurrent expenditure by MVR108.4 million and the MVR49.6 million decrease in capital expenditure.
At the end of August, stock of government debt (excluding government-guaranteed debt) increased by MVR1.2 billion (2%), compared with MVR49.7 billion at the end of April this year. There was an increase in both domestic and external borrowings.