State receives MVR 21 bln in revenue, expenditure at MVR 28 bln

The government has received MVR 21 billion in revenue so far this year.

According to the Finance Ministry, the government received MVR 21.22 billion as of October 13. While taxes accounted for 72 percent of the revenue, 28 percent is non-tax revenue and aid.

The ministry said tax revenue stood at MVR 15.2 billion so far this year. Total tax revenue is estimated at MVR 15.3 billion for this year. While non-tax revenue stood at MVR 5.8 billion, the state received MVR 271.8 million in aid.

Highest tax revenue sources:

GST --including General GST and TGST-- MVR 7.4 billion
Business and Property Tax - MVR 3.9 billion
Import duty - MVR 2.4 billion

Highest non-tax revenue sources:

Fees and charges - MVR 2 billion
Property Income - MVR 1.7 billion

Recurrent expenditure stood at MVR 21.2 billion by October 13, while capital expenditure stood at MVR 7.7 billion. Salaries and allowances amounted to MVR 8.2 billion, while administrative and operating expenses amounted to MVR 12.9 billion.

Additionally, MVR 2.5 billion was spent on loan repayments, while MVR 4.7 billion hwas spent on Public Sector Investment Program (PSIP) projects this year.