The Ministry of Finance has revealed that the state expenditure for the past week was recorded MVR 33.6 million more than state income for the week.
The reveal was made via the ministry’s statistics for the week from 9 – 13 February. As such, the state had spent a total of MVR 2,548.8 million within the period.
State income was recorded at MVR 2,582.4 million within the same period.
In comparison to the first week of the ongoing month, state expenditure had risen by a huge amount within the past week, revealed the ministry.
During the first week of February, the state expenditure was recorded at MVR 1,638.9 million with a state income of MVR 2,411.6 million.
Further, the state expenditure for the first week of February was recorded MVR 37.9 million more than state income.
Thus far this year, up until the first week of February 2020, the state expenditure was recorded MVR 772.7 million more than state income.
The amount was recorded at MVR 33.6 million during the past week.
The biggest expenditure was for salary and wages, at MVR 1,648.5 million. Up until the end of last week, the state had spent MVR 831.4 million for salary and pension alone with a subsidy of MVR 218 million. Further expenses include MVR 573 million for several different schemes and projects.
In addition, a total of MVR 2,194.8 million was acquired through taxes during the past week, with a total of MVR 381 million having been acquired as non-taxes.