Weekly Fiscal Development Report

6 articles

All cabinet ministers stand to receive President Muizzu as he arrives for a cabinet meeting.

Recurrent costs consume 87 percent of state budget as PSIP spending plunges, deficit hits MVR 1.5bn

Ministers stand in honor as President Muizzu arrives for Cabinet meeting.

87 percent of budget spent on recurrent expenditure; PSIP spending drops by 16 percent as budget deficit hits 1.5 billion

The most significant revenue is from Tourism Goods and Services Tax.

State Budget Records MVR 1.5 Billion Deficit

The largest share of revenue is generated from the Tourism Goods and Services Tax (T-GST).

State budget deficit reaches MVR 1.5 billion

Expenditure on subsidies has reached MVR 2.2 billion so far this year, marking a 77 percent increase compared to the MVR 1.2 billion spent during the same period last year.

Spending on subsidies increases by 77 percent

Groundbreaking ceremony for main road development project in L. Isdhoo-Kalaidhoo

Development spending drops sharply as subsidy budget runs out