Maldives grant aid hikes to MVR 157m
This year's budget estimated grant aid at MVR 1.3 billion.
By
Ahmed Naif
The amount of grant aid received by Maldives has increased in the first six months of this year, according to the Ministry of Finance.
According to the revenue and expenditure data released by the Ministry of Finance, MVR 157 million has been received as grant aid from various foreign sources as of the 20th of this month, while MVR 82.6 million was received in the same period last year. The grant received so far this year is an increase of MVR 74 million or an 89% increase.
This year's budget estimated grant aid at MVR 1.3 billion. Therefore, 12% of the estimated amount has been received so far this year. MVR 1.1 billion more is still needed this year.
Revenue lower than last year
According to the financial data, the government's revenue stood at MVR 15.5 billion as of the 20th of this month. It stood at MVR 16.4 billion during the same period last year.
Therefore, the revenue so far this year is MVR 942 million less than the same period last year.
In addition, costs have declined. Expenditures declined from MVR 23.4 billion to MVR 18.9 billion compared to the previous year. That is a decrease of MVR 4.5 billion.
