Governance

Revenue at MVR8.7 bln, expenditure at MVR7 bln by May end

Finance minister Ahmed Munawar speaks at parliament about State Budget 2017. PHOTO/MAJLIS

Finance Minister Ahmed Munawar speaks at parliament about State Budget 2017. PHOTO/MAJLIS

The Maldives recorded a revenue of MVR 8.7 billion by the end of May this year while government expenditure has reached MVR 7 billion.

According to statistics released by the Ministry of Finance and Treasury, the revenue earned after expenditure cut is MVR 1.7 billion so far this year. The highest expenditure was in recurrent expenditures amounting to total MVR 5.5 billion by the end of May.

The monthly statistics show that the finance ministry spent MVR 788 million as salary, allowance and pension in May, while operations and other costs amounted to MVR 441 million. The total expenditure in May was MVR 1.2 billion with a capital expenditure of MVR 260.7 million.

The state’s revenue for the month of May was MVR 1.7 billion while government expenditure was MVR 1.4 billion.

Full details are available from the link below:

Source URL: Mihaaru-Business

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