Minister of Finance has reported progress in the state revenue generated compared to last year.
According to the latest Weekly Fiscal Report published by the finance ministry, the state revenue stood at USD1.89 billion, as of October 31. This is an increase of 1.5%, compared to the USD1.85 billion generated last year, during the constituting period. The report indicated that this year's state revenue of USD1.89 billion includes, USD1.45 billion as tax revenue, USD402 million as non-tax revenue and USD36.6 million as financial assistance.
The revenue generated through tax primarily includes Import Duty, Business and Profit Tax (BPT) and Goods and Services Tax (GST). As such, the government collected USD169 million as Import Duty, USD370 as BPT, USD772 million as GST, USD57.1 million as Green Tax and USD60.3 million as Airport Services Charge and Departure Tax.
Furthermore, the statistics show that the state expenditures during the last ten months stood at USD2.67 billion. This includes USD1.81 million as recurrent expenses and, USD720 million as capital expenditures. Of the USD1.81 million incurred as recurrent expenses, USD726 million was spent as salaries and wages, while USD1.07 million contributed to administrative costs. Meanwhile, the capital expenditures were mainly the costs incurred for infrastructure developmental initiatives.