Maldives has continued to maintain the budget surplus during the first 14 weeks of the year, the Ministry of Finance and Planning figures showed.
According to the Ministry’s ‘Weekly Fiscal Developments’ figures, Maldives recorded USD 920.9 million in revenue as of 8 May with a total State expenditure of USD 797.7 million during this period.
The figures show that the revenue of USD 920.9 million in the first 14 weeks of this year included USD 713.4 million in tax revenue and USD 194.6 million in non-tax revenue along with USD 54.3 million in grant aid.
During this period, State expenditure of USD 797.7 million is 21.6 percent lower than the same period last year, according to the Weekly Fiscal Development report. State expenditure stood at USD 1 billion during the same period last year.
During the first 14 weeks of this year, the largest share of government expenditure was on recurrent expenditure with USD 726.3 million while capital expenditures stood at USD 64.9 million, according to the figures.