Weekly income/expense report: Surplus of MVR 398.6M

The statistics released by Ministry of Finance for the past week show an increase in income over expenses by the State.

The total expenditure of State institutions in the past week was recorded at MVR 510.8 million, and the income received by the State was recorded at MVR 909.4 million – a surplus of MVR 398.6 million.

The highest expenditure rate was recorded at Ministry of Education which spent MVR 152 million in the past week – which can be attributed to the beginning of the academic new year and the launch of the pilot school breakfast program.

The second largest expenditure was on pension; with MVR 107.7 million from the pension budget and MVR 131.5 million from the special budget of Ministry of Finance spent on pensions.

The State also spent MVR 253.9 million on salary and remuneration.