State income at MVR 9.9 billion

Traffic on a road in Male' City. (Sun Photo/Fayaz Moosa)

Finance Ministry statistics have shown that the state had earned MVR 9.9 billion as income.

Statistics showed that the state earned a total of MVR 17.8 billion up until last week. Statistics of last year, showed that the state had earned MVR 17.1 billion during the same period last year, while expenditure stood at MVR 18.1 billion.

The biggest source of income for the state was through taxes, accounting for MVR 7.7 billion. The biggest expenditure by the state was for salaries and allowances, amounting for a total of MVR 6.6 billion.

Repayment of loans cost the state MVBR 683.5 million while a further MVR 2.8 billion was spent on PSIP projects.