State revenue increases by MVR 3 bln

The government's revenue so far this year has increased by MVR 3 billion compared to last year.

According to the Finance Ministry's weekly financial statements, revenue stood at MVR 10 billion as of June last year. However, total revenue from grants and revenue so far this year stood at MVR 13.1 billion, an increase of about three billion compared to the previous year.

The largest amount was generated as revenue this year in the form of taxes. 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 this year declined to MVR 418.1 million compared to MVR 197.7 million received last year.

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