State revenue decreases in July 2020

Ministry of Finance has revealed the state revenue collected in July this year declined 78% compared to the same period last year.

According to statistics of the finance ministry, revenue and grants stood at over USD 44 million in July 2020, which is a 78% decline compared to the corresponding month of last year. The ministry said this was primarily contributed by a fall in tax revenue due to repercussions of the COVID-19 pandemic. The ministry further revealed similarly, non-tax revenue comparatively declined due to falls in property income receipts.

Meanwhile, the statistics showed the total expenditure for July this year decreased by 7.1% compared to the same month in 2019.