Government expenditure exceeds MVR 27 billion

The Maldivian government's expenditure has exceeded MVR 27 billion so far this year.

Statistics revealed by the Ministry of Finance show that the expenditure for this year has reached 27.7 billion by 08 September 2022. For the same period last year, the government expenditure was recorded at MVR 24.5 billion.

Finance Ministry's statistics show that the state has spent MVR 18.4 billion as recurrent expenditure. These include MVR 7.3 billion spent on salaries, wages and pension of staff, as well as the MVR 11 billion spent on administrative and operational expenses.

Statistics shows that the state has so far spent MVR 3.2 billion on Salaries and Wages, MVR 2.9 billion on Allowances to Employees and MVR 1.2 billion on Pensions, Retirement Benefits and Gratuities.

The Ministry's statistics reveals that the state has spent MVR 5.7 billion as Grants, Contributions and Subsidies. As such MVR 1.1 billion was spent under 'Aasandha' and MVR 2.6 was spent on Subsidies.

The government has so far spent MVR 1.1 billion as Council Grants as well.

The government has so far spent MVR 6.8 billion as capital expenditure. For the same period last year, the government's capital expenditure was MVR 5.4 billion.

As such, MVR 292.1 million was spent on capital equipment and MVR 4.8 billion was spent on infrastructure assets. While MVR 1.3 billion was spent on development projects and investment outlays, it is recorded that the state spent MVR 415.5 million as domestic lending.

Moreover, statistics show that the government has spent MVR 2.5 billion for loan repayment.

So far this year, MVR 558.7 million was transferred to the Sovereign Development Fund and MVR 4.8 billion was spent on public sector investment programs.