Ministry of Finance has revealed that the state received USD2 billion in revenue in 2023.
According to the Weekly Fiscal Developments report, the state received slightly less than the estimated USD2.1 billion in revenue in 2023. However, it is more than the USD1.9 billion received in 2022.
The report shows that the state received USD1.5 billion in tax revenue, USD525 million in non-tax revenue, and USD33 million in grants. The state received tax revenue of USD214 million in import duty, USD331 million in business and property tax, USD791 million in Goods and Services Tax (GST), USD60 million in green tax and USD60 million in airport service charge and departure tax.
The total expenditure for 2023 reached USD3 billion. Around USD2 billion of the expenditure went to recurrent expenditures, with USD772 million for salaries and USD1.2 billion on administrative costs. The remaining USD979 million went to capital expenditures, primarily for infrastructure development projects.