Revenues from Offices to Contribute MVR 31 Billion to Budget, Reveals Financial Report
Photo: People’s Majlis
The government’s fiscal year 2024 financial report details substantial contributions from government offices, with revenues reaching MVR 31,026,826,460.
The government’s fiscal year 2024 financial report details substantial contributions from government offices, with revenues reaching MVR 31,026,826,460.
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Additionally, trust fund revenues amounted to MVR 1,249,476,944, while subsidiary loan repayment showed a negative figure of (5,331,503). Cash grants and project grants contributed MVR 780,400,000 and MVR 495,650,028, respectively, resulting in a total income of MVR 33,547,021,929.
On the expenditure side, the government allocated funds across various categories, with the regular budget dominating at MVR 44,099,904,996. Trust fund expenditures followed at MVR 540,896,980, with cash grant expenditures at MVR 20,691,131, and project grant expenditures at MVR 495,650,028. Loan expenditures were substantial, reaching MVR 4,654,580,613, and political party contributions amounted to MVR 44,099,905.
Despite a substantial income, the total expenditure for the year surpassed the income, creating a significant difference of MVR 10,552,882,067. Analysts are expected to closely examine the report in the coming days, evaluating the government’s financial decisions and their implications for the economic landscape.
The transparent breakdown of resource allocation provides insight into both positive and potentially challenging aspects of the government’s fiscal strategy.