Ministry of Finance data show total state expenditure as of 21 March was MVR 8.94 billion, down MVR 1.45 billion from the same period a year earlier, driven by lower capital and PSIP spending. Recurrent expenditure and revenue both rose slightly year on year, with tax revenue up by about MVR 500 million.
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Total expenditure as of 21 March was MVR 8.94 billion; a decrease of MVR 1.45 billion compared to the same period last year, the ministry’s weekly financial statements showed.
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Total expenditure as of 21 March was MVR 8.94 billion; a decrease of MVR 1.45 billion compared to the same period last year, the ministry’s weekly financial statements showed.
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March capital expenditure stood at MVR 2.06 billion in 2024, lower than the MVR 3.64 billion over the same period last year.
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March capital expenditure stood at MVR 2.06 billion in 2024, lower than the MVR 3.64 billion over the same period last year.
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MVR 2.88 billion was spent on PSIP last year, versus MVR 1.13 billion over the same period this year.
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MVR 2.88 billion was spent on PSIP last year, versus MVR 1.13 billion over the same period this year.
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Total recurrent expenditure stood at MVR 6.75 billion in March of last year, while it rose to MVR 6.88 billion over the same period this year.
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Total recurrent expenditure stood at MVR 6.75 billion in March of last year, while it rose to MVR 6.88 billion over the same period this year.
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Revenue for the period was up — MVR 7.75 billion last year, compared to MVR 7.88 billion this year.
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Revenue for the period was up — MVR 7.75 billion last year, compared to MVR 7.88 billion this year.
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This was attributed to an increase of about MVR 500 million in tax revenue this year over last.
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State expenditure so far this year has increased compared to last year, however, capital expenditure declined by MVR 1.5 billion, according to data released by the Ministry of Finance.
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