



rufiyaa
Government Revenue consists of Tax Revenue, Non-Tax Revenue and Grants.
MVR 21.1 billion was approved as the Total Government Revenue and Grants in 2021, of which Tax Revenue constitutes the major item.
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Government Expenditure is composed of two main types of expenditures: Recurrent Expenditure (expenditure incurred for the day-to-day running of the Government and providing public services) and Capital Expenditure (expenditure on infrastructure projects and capital items such as machinery and equipment).
The Approved Total Expenditure budget for 2021 is MVR 33.4 billion, which adds up to a Total Budget of MVR 34.9. Total Expenditure is calculated by deducting loan repayments and contribution to international financial institutions from the Total Budget.


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The Overall Budget Balance is the difference between Total Revenues and Grants, and Total Expenditures. The Overall Budget Balance is at a deficit due to higher Total Expenditures compared to Total Revenues and Grants. The Primary Budget Balance is the Overall Balance after deducting loan servicing costs.
The approved budget balance for 2021 is an Overall Deficit of MVR 12.3 billion. The Primary Balance for this period is a Deficit of MVR 9.8 billion. This Deficit is financed through various financial instruments such as Bonds, Sukuk and Treasury Bills and other means of borrowing.

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The 2021 Budget includes a total of MVR 4,054.9 million for the provision and expansion of healthcare services. From this budget, MVR 3,289.3 million is allocated for hospital services while MVR 765.6 million is allocated for general health services.
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The 2021 Budget includes a total of MVR 7,029.9 million on economic affairs. Most of the expenditure in this sector (MVR 3,723.7 million) is allocated for economic diversification, labour affairs and the development of the private sector.


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The 2021 Budget has allocated MVR 3,981.0 million for the education sector. MVR 918.5 million is allocated for tertiary education while the remaining MVR 3,062.5 million is allocated for other levels of education.
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MVR 2,407.9 million is allocated for housing and community amenities in the 2021 Budget. Among this, the majority of expenditures (MVR 2,264.3 million) are on housing and community development.


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Expenditures on this function aim to promote equality within the society. From the budget allocated for this sector, MVR 1,169.6 million is allocated for sickness and disability allowances, MVR 1,340.0 million for pensions, and MVR 1,192.4 million for other expenditure for social protection. The 2021 Budget has allocated a total of MVR 3,702.0 million for this sector.
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The 2021 Budget allocates a total of MVR 1,856.3 million on environmental protection. Expenditure on this function includes waste management, waste water management, pollution abatement, protection of biodiversity and landscape, among others. The largest component, among this, is sanitation in islands for which MVR 1,148.4 million is allocated for in the 2020 Budget.


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The 2021 Budget allocates a total of MVR 1,431.3 million on defense related expenditures. The majority of this is spent on military defense with a total of MVR 1,272.4 million.
The 2021 Budget allocates MVR 2,810.2 million for public order and safety. Most of the expenditure are on border control and public safety. This constitutes a total budget of MVR 1,668.7 million.
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The 2021 Budget allocates MVR 2,907.1 million on the provision of general public services. A total of MVR 2,748.7 million is allocated for executive and legislative organs, financial and fiscal affairs, and external affairs, while MVR 158.4 million is allocated for general public services.
MVR 803.8 million is allocated for recreation, culture and religion in the 2021 Budget. MVR 482.4 million is allocated towards recreation and sporting services while MVR 275.1 million is allocated to religious and other community services.
A total of MVR 3,938.3 million is allocated in the 2021 Budget for debt services and amortization. Of this, MVR 1,469.9 million is allocated for loan repayments and MVR 2468.4 million is allocated for interest payment and debt servicing.

Republic of Maldives
Tel: 1617
Tel: +(960) 334 9200
Fax: +(960) 333 8034
E-mail: [email protected]