The State received approximately USD 2.07 billion as income and foreign aid during the first 11 months of this year, according to the Ministry of Finance. This revelation was made in the latest 'Weekly Fiscal Development' report published by the Ministry.
As of 5 December, the State's total income and foreign aid stood at approximately USD 2.07 billion, reflecting a slight increase from the USD 2.02 billion received during the same period last year.
According to the Ministry's statistics, the bulk of this income was generated from taxes. The State collected approximately USD 1.58 billion in taxes during the first 11 months of the year, compared to USD 1.45 billion recorded during the same period in 2023.
Goods and Services Tax (GST) constituted the highest portion of the tax income, amounting to approximately USD 856.03 million. The State also received approximately USD 376.14 million from Business Profit Tax (BPT) and USD 64,840 as Airport Service Charge. Non-tax revenue for the same period was approximately USD 454.5 million, with foreign aid accounting for about USD 44.83 million of this total.
On the expenditure side, the Finance Ministry's report revealed that the State's spending for the first 11 months of the year was approximately USD 2.79 billion. This included approximately USD 804.94 million in recurrent expenditure and USD 836.88 million in capital expenditure. The highest spending was on staff salaries and remunerations, which amounted to approximately USD 363.29 million.