Gov't expenditure exceeds MVR 11 billion

The Maldivian government expenditure has reached MVR 11 billion so far this year.

Statistics made public by the Ministry of Finance show that the state has spent MVR 11.2 billion by the April 21, 2022. For the same period last year, the recorded expenditure of the state was MVR 11.7 billion.

Finance Ministry's statistics show that the state spent MVR 7.7 billion as recurrent expenditure. These include MVR 2.8 billion spent on salaries, wages and pension of staff, as well as the MVR 4.9 billion spent on administrative and operational expenses.

The government has so far, spent MVR 2.8 billion as capital expenditure. As such, MVR 91.6 million was spent on capital equipment and MVR 1.7 billion was spent on infrastructure assets. While MVR 905.8 million was spent on development projects and investment outlays, it is recorded that the state spent MVR 105.6 million as domestic lendings.

Moreover, statistics show that the government has spent MVR 681.1 million for loan repayment.

So far this year, the government spent MVR 1.8 billion on public sector investment programs and MVR 149.9 million was transferred to the Sovereign Development Fund.