An additional MVR 640.1 million in revenue and grants is expected for the Maldivian government this year, according to the supplementary budget presented to Parliament on Thursday.
The current budget had projected MVR 33.54 billion in revenue and grants this year. However, as per revised figures included in the supplementary budget, the estimated total revenue and grants for the year now stands at MVR 34.18 billion, reflecting an increase of MVR 640.1 million.
While MVR 335.3 million is expected from land sale and land transfer fees, an additional MVR 199.3 million is anticipated from grants, as well as MVR 61.6 million from various proposed revenue enhancements.
The supplementary budget also projects that tax revenue will total MVR 25.6 billion by year’s end. Non-tax revenue is estimated at MVR 7 billion, while grants are expected to reach MVR 1.4 billion.
