State revenue from SOEs, tourism declines
The government has spent MVR 131 million per day.
By
Ahmed Naif
State revenue from dividends paid by state-owned enterprises (SOEs) and fees and taxes paid by the tourism sector has declined.
The latest state revenue and expenditure data released by the finance ministry shows that the revenue from dividends of SOEs stood at MVR 207.6 million in the first five months of this year.
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That is MVR 1.5 million less than the same period last year
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MVR 209.1 million in the first five months of 2022
The government had forecast MVR 1.1 billion in SOE dividends this year.
Tourism revenue declines by MVR 111 million
Tourism revenue has also started to decline with the decline in tourist arrivals from Europe. Compared to April, last month:
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T-GST revenue declined by MVR 99.2 million
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MVR 11.8 million less in green tax
MVR 20 billion spent in five months
The government spent MVR 20.7 billion in the first five months of this year against revenue of MVR 14.5 billion, with budget deficit reaching MVR 5.1 billion.
The government has spent MVR 131 million per day.
