News

State budget deficit increases in August

Statistics released by the Ministry of Finance has indicated a rise in recurrent expenditure in September, compared to the revenue received during the month of August.

It also indicates the deficit till September 5, 2019 has exceeded one million dollars when the state expenditure for the past month was USD 1.104 million while the revenue earned was USD 1.039 million.

Out of the USD 1.039 million earned, USD 779,220 was received from various forms of taxation and the remaining USD 194,805 was received from other sources including grants and aid.