State revenue up MVR 1m from Feb 2023

State revenue, including grants, was up MVR 1 million in February 2024, compared to the same period last year, according to information released by the Maldives Monetary Authority (MMA).

The central bank released the monthly statistics report for February 2024 on Monday. According to the report, the state generated MVR 33 million as revenue during the month – a MVR 1 million increase from the MVR 32 million generated as revenue in February 2023.

The state generated MVR 32 million as current revenue in February 2024, compared to MVR 31 million in February 2023.

But the capital revenue shows a huge dip. The state generated MVR 49.4 million as capital revenue in 2023, but just MVR 4.3 million this year.

Meanwhile, the grants received 2024 is double that in 2023. According to the report, the state received MVR 1.2 billion in grants in February 2024, compared to MVR 505.1 million in February 2023.

While the revenue increased, so did the expenditure.