The Ministry of Finance has revealed that the state revenue has reached MVR 26.4 billion so far in 2023.

Statistics released by the Finance Ministry show that the state revenue reached MVR 26.4 billion by 12 October 2023. The state revenue at 12 October, 2022 was at MVR 22.3 billion.

The Ministry's statistics show that income generated from tax currently sits at MVR 19.1 billion. During the same period last year, the state earned MVR 15.7 billion as tax revenue.

Statistics show that the state received MVR 3.4 billion as General Goods and Services Tax and MVR 6.7 billion as Tourism Goods and Services Tax, by 12 October.

Statistics reveal that MVR 4.9 billion was generated as Business and Property Tax. This includes MVR 2.7 billion generated as Corporate Income Tax, MVR 885.7 million as Withholding Tax and MVR 312.9 million generated as Individual Income Tax.

Finance Ministry's statistics further show that the state had earned MVR 773.8 million as green tax during this period. During the same period last year, the state earned MVR 767.2 million as green tax.

Statistics show that MVR 763.5 million was earned as Airport Service Charge.

The state received MVR 6.9 billion as Non-Tax Revenue, according to the Finance Ministry.

This includes MVR 786.2 million earned as airport development fee, MVR 8.7 million as Residential Permit, MVR 630.9 million as Registration and License Fees, and MVR 1.4 billion as rent from resorts.

The state had also earned MVR 38.3 million as Land Acquisition and Conversion Fee.

Statistics also show that MVR 123.4 million has been earned as Fines and Penalties so far this year.

Finance Ministry's statistics show that the state has earned MVR 4.5 million as Capital Receipts and MVR 488.3 million as grants so far this year.

Furthermore, the state expenditure had reached MVR 37.9 billion by 12 October, 2023.

Statistics revealed by the Ministry of Finance shows that the government expenditure is more than the amount they spent during the same period last year. As such, while the state has so far spent MVR 37.9 billion in 2023, for the same period of 2022, the government expenditure was recorded at MVR 31.9 billion.

The total Recurrent and Capital Expenditure of the state currently sits at MVR 35.9 billion. During the same period of 2022, the total Recurrent and Capital Expenditure of the state sat at MVR 29.4 billion.

Ministry's statistics show that the state spent MVR 24 billion as Recurrent Expenditure. This include MVR 8.9 billion spent on Salaries, Wages and Pension of staff, as well as MVR 14.9 billion spent on Administrative and Operational Expenses.

Statistics show that MVR 1.5 billion was spent on Aasandha by 12 October.

Additionally, the state has so far spent MVR three billion on subsidies.

Finance Ministry stated that the government has so far spent MVR 1.4 billion as Council Grants.

Statistics show that the government spent MVR 11.8 billion as Capital Expenditure. For the same period of 2022, the government's Capital Expenditure was MVR 7.9 billion.

So far this year, MVR 724.8 million has been transferred to the Sovereign Development Fund.