MVR 1b hike in state expenditure in 4 months
The state's spending increased by 38% in the first four months of the year as compared to the same period last year.
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In the first four months of the year, the state's expenditure increased by MVR 1 billion compared to the same period last year.
According to data released by the central bank, MMA, the state's spending increased by 38% in the first four months of the year as compared to the same period last year.
Here's a look at the increase in public expenditure:
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Increase of MVR 630 million in recurrent expenditure
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Increase of MVR 430.2 million in capital expenditure
The state's revenue surged by 12% in the first four months of the year as compared to the same period last year, with revenue standing at MVR 266.9 million without grants.
The state's revenue includes:
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MVR 251.8 million collected as taxes
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MVR 15.3 million received through non-tax revenues
