The state expenditure has reached MVR22,551.2 million as of 21 November 2019.
As per the Weekly Fiscal Development stats, by the same period state revenues and grants hit MVR20,919.3 million.
According to stats, 75% of the total expenditure was spent on recurrent expenses while the other 25% on capital expenses.
On the other hand, 69% of the total revenue came through tax sources and the other 31% from non-tax sources.
As usual, tax revenues such as TGST, GGST, Import Duty and BPT remain the strongest with regards to contribution.
Due to higher expenditure against revenues made the overall balance was a deficit in review week.
As such, the overall balance observed a deficit of MVR1,631.9 million.
According to review week stats, cumulative total tax revenues hit MVR14,515.8 million. Meanwhile, non tax revenue reached MVR5,398.3 million.
In addition to this, cumulative total on recurrent expenditure reached MVR16,999.1 million.
While the cumulative total of capital expenditure has reached MVR5,552.1 million.
As of the Week-47 of the year, state has spent MVR1,021.8 million in loan repayment from the projected MVR2,887.9 million total for the year.
As of 21 November, state has transferred MVR1,281.4 million to Sovereign Development Fund.
Moreover, the investable balance of SDF by the review week was observed at MVR2,641.1 million.
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