State revenue reaches MVR 12 billion

Ministry of Finance revealed that the state has received MVR 12 billion as revenue, so far this year.

Statistics revealed by the Ministry of Finance show that the state had earned MVR 12.7 billion by 23rd June 2022, compared to MVR 9.4 billion received as revenue during the same period last year.

The Ministry's statistics show that income generated from tax has reached MVR 8.8 billion. As such, the state received MVR 1.4 billion as General Goods and Services Tax and MVR 3.7 billion as Tourism Goods and Services Tax. Moreover, MVR 1.4 billion was generated as Business and Property Tax.

While the sate earned MVR 1.3 billion as Import Duties, statistics show that MVR 328.4 million was earned as Airport Service Charge.

Additionally, the state received MVR 53.4 million as royalties so far this year. Statistics shows that the state received MVR 366.1 million as Airport Service Charges by June 23.

The Statistics also shows that the state generated MVR 506.9 million as green tax.

The state received MVR 3.8 billion as Non-Tax Revenue, according to the Finance Ministry.

Statistics show that Maldivian state received MVR 9.9 million as capital receipts and MVR 182.1 million as Grants, so far this year.

The Maldivian government expenditure has reached MVR 18.3 billion so far this year. For the same period last year, the recorded expenditure of the state was MVR 16.9 billion.

Finance Ministry's statistics show that the state spent MVR 12.3 billion as recurrent expenditure. These include MVR 4.6 billion spent on salaries, wages and pension of staff, as well as the MVR 7.8 billion spent on administrative and operational expenses.

The government has so far spent MVR 4.1 billion as capital expenditure. As such, MVR 171.9 million was spent on capital equipment and MVR 2.7 billion was spent on infrastructure assets. While MVR 995.9 billion was spent on development projects and investment outlays, it is recorded that the state spent MVR 311.2 million as domestic lending.

Moreover, statistics show that the government has spent MVR 1.8 billion for loan repayment.

So far this year, MVR 1.6 billion was transferred to the Sovereign Development Fund and MVR 2.8 billion was spent on public sector investment programs.

As such, statistics show that the highest amount was spent on water and sewerage development projects. As such a total of MVR 511.8million was spent on same , this year.

These include MVR 390.2 million on installation of water and sewerage systems in some islands, MVR 27.1 million spent on sewerage system installation and MVR 94.6 million spent on water systems.

Ministry's statistics goes on to reveal that MVR 292.3 million was spent on housing and infrastructure projects, MVR 160.7 million on land reclamation, MVR 213.7 million on road construction and MVR 418.4 million on harbor development projects.

Additionally, the government has spent MVR 283.7 million on bridge development projects and MVR 37.2 million on airport development projects.

The government has so far spent; MVR 19.1 million on national security and public order, MVR 90.9 million on development of health services, MVR 179.1 million on education sector and MVR 355.9 million on environment protection projects.