Government Revenues Reach MVR765.2 Million

Saturday 1st of February 2020

Government Revenues Reach MVR765.2 Million

As of 23 January 2020, the cumulative total of state revenues and grants has reached MVR765.2 million while the total of state expenditure was MVR581.6 million.

The majority of expenditure during this period was spent on recurrent expenditure; Salaries and Wages, and Allowances to Employees. Notable spending on capital expenditure includes Development Projects and Investment Outlays, and Land and Buildings.

79% of the total was generated through tax sources with TGST, GGST and BPT being the main income to the Maldives government. The overall balance for the period was observed as a surplus of MVR183.5 million.

Though the cumulative total of revenue and grants for the review week was observed at MVR765.2 million, it is still lower than the corresponding period in 2019 where the cumulative total was observed at MVR1, 075.1 million.