Dividends issued to government by state owned companies are expected to recede this year according to Finance Ministry.
The 2018 state budget has estimated a 30% decrease from initially projected figures in dividends issued to government by almost all the state owned corporations before the end of 2017's fiscal run.
This change occurred due to the opportunities granted for state corporations to increase their capital as well as the unusual exemptions given to Maldives Airports Company Limited (MACL) to issue dividends.
"However, the revenue collected this year has increased by 71.9% compared to 2016 due to amendments to revenue policies," the report said.
While dividends have been expected to slide, the profit retained by state corporations had decreased compared in precedent.
State has submitted a MVR 28 billion budget for the upcoming 2018 which includes 56% of the comprised budget allocated for recurrent expenditure. While 24.9 billion is projected as expenditure, the budget forecasts loan and free aids comprising a total of MVR 22.4 billion to state.
Next year's budget deficit is estimated at MVR 2.5 billion however the opposition had since accused state of misleading the facts and claimed it would reach to MVR 10 billion.
