Business Governance

Maldives collects over MVR 10 billion in revenue

The state has recorded a revenue of MVR 10 billion during the first half of 2018, with MVR 11 billion spent as expenditure.

According to statistics published by the Ministry of Finance and Treasury, MVR 8.2 billion was spent under state administrative costs with an additional MVR 2.8 billion spent on state-sponsored projects.

The statistic revealed that majority of the government’s expenditure was spent on civil servant salaries, benefits, and pensions.

Through the end of the first half of 2018, MVR4.5 billion was spent for the aforementioned purposes with additional administrative costs raking in a sum of MVR3.6 billion.

The state received MVR8.1 billion in tax revenue, out of which MVR2.5 billion was collected as non-tax revenue.

The annual state budget of MVR 27.9 billion for 2018 projected MVR22.4 billion as revenue and free aid.

Full details are available at the link below:

Source URL: Corporate Maldives

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