Government Finance- Everything You Need to Know
Wednesday 25th of December 2019
Government Finance- Everything You Need to Know
On 25th December, Ministry of Finance published the Weekly Fiscal Development for the 51st week from December 12 -19. This is published every week’s Tuesday and provides a set of tables on the summary of government finances, detailed expenditure and revenue out-turns, and government borrowing for the reporting week.
In a week’s period, the government raised MVR 22,757.0 million and spent MVR 26,157.9 million. This means that the budget is a deficit of MVR 3,400.9 million. Out of the total expenditure, 73% was for recurrent and out of the revenue, 69% was from various tax imposed on public. Highest tax revenue was generated from GST. Budget utilization was highest in Special Budget, followed by Ministry of Education and Ministry of Finance.
Compared to the previous week, the deficit in budget is higher by MVR 96.4 million. Details regarding specific amounts will be available from the Ministry’s website.