Budget Deficit Reaches MVR 4.2 Billion

The government's budget deficit has reached MVR 4.2 billion within the first six months of the year.

Figures published by the Ministry of Finance show that the state spent MVR 13,445 million between January 1, 2021, and July 1, 2021. State income within the period was MVR 9159 million. The budget deficit was MVR 6 billion during the same period the previous year.

Out of the MVR 9.1 billion income, MVR 6.9 billion is tax revenue, and the remaining MVR 2.1 billion is revenue unrelated to tax.

The government has spent MVR 10.3 billion for state operations, and MVR 3 billion as capital expenditure.

While the budget deficit is increasing, the government is not attempting to limit expenditure and has recently appointed several people to political roles.