Government expenditure exceeds MVR 26 billion

The Maldivian government expenditure has exceeded MVR 26 billion so far this year.

Statistics revealed by the Ministry of Finance show that the expenditure for this year has reached 26.3 billion by August 30, 2022. For the same period last year, the government expenditure was recorded at MVR 22.9 billion.

Finance Ministry's statistics show that the state has spent MVR 17.6 billion as recurrent expenditure. These include MVR 7 billion spent on salaries, wages and pension of staff, as well as the MVR 10.4 billion spent on administrative and operational expenses.

The government has so far spent MVR 6.4 billion as capital expenditure. As such, MVR 238.8 million was spent on capital equipment and MVR 4.6 billion was spent on infrastructure assets. While MVR 1.2 billion was spent on development projects and investment outlays, it is recorded that the state spent MVR 391 million as domestic lending.

Moreover, statistics show that the government has spent MVR 2.2 billion for loan repayment.

So far this year, MVR 514.8 million was transferred to the Sovereign Development Fund and MVR 4.7 billion was spent on public sector investment programs.