Expenditure exceeded revenue by MVR 13B in 2020

5 days ago

Records released by Finance Ministry show the State spent MVR 27.3 billion in 2020 while it received a lower MVR 14.5 billion as revenue, resulting in a fiscal deficit of MVR 13 billion. Maldives originally passed a budget of MVR 35.9 billion for 2020, but later reduced the budget and cut down expenses due to the severe impact of the COVID-19