MVR 8.8 billion spent on PSIP

The Maldivian Government has spent MVR 8.8 billion on Public Sector Investment Programs (PSIP), by 29 December, 2022.

According to the statistics publicized by the Ministry of Finance, the highest expenditure was made on bridge development projects. As such a total of MVR 1.7 billion was spent on bridge development projects this year.

The government has spent MVR 1.5 billion on water and sewerage development projects.

These include MVR 1.2 billion on installation of water and sewerage systems in islands, MVR 59.6 million spent on sewerage system installation and MVR 252.2 million spent on water systems.

Ministry's statistics goes on to reveal that MVR 687.4 million was spent on housing and infrastructure projects, MVR 784.9 million on land reclamation, MVR 825.5 million on road construction and MVR 913.7 million on harbor development projects.

Additionally, MVR 566.2 million was spent on airport development projects.

The government has so far spent; MVR 65.5 million on national security and public order, MVR 166.3 million on development of health services, MVR 428.2 million on education sector and MVR 682.9 million on environmental protection projects.

As such, MVR 221.2 million was spent on waste management projects, MVR 364.2 million was spent on coastal protection projects, MVR 78.9 million was spent on renewable energy projects and MVR 16.1 million was spent on water drainage systems.

By December 29, 2022, the Maldivian Government's expenditure has reached MVR 42.6 billion according to the Finance Ministry. As such, statistics show that the state spent MVR 27.9 billion as recurrent expenditure and MVR 11.9 billion as capital expenditure.

The government has also spent MVR 2.7 billion towards loan repayment and MVR 820.1 million was transferred to the Sovereign Development Fund.

Ministry of Finance revealed that the state has received MVR 27.7 billion as revenue, so far this year.