State spends MVR 1.2 billion in 12 days

The state has spend MVR 1.2 billion within the first 12 days of 2023.

Statistics revealed by the Ministry of Finance show that the government expenditure is more than the amount they spend during the same period last year. As such, for the same period of 2022, the government expenditure was recorded at MVR 678.1 million.

The total Recurrent and Capital Expenditure of the state sits at MVR 844.2 million. During the same period of 2022, the total Recurrent and Capital Expenditure of the state sat at MVR 446.9 million.

Ministry's statistics shows that the state spent MVR 568.3 million as Recurrent Expenditure. This include MVR 3.8 million spent on Salaries, Wages and Pension of staff, as well as the MVR 564.4 million spent on Administrative and Operational Expenses.

During 2022, the state spent MVR 6.2 million on Salaries, Wages and Pension of staff between 01 January and 12 January. During this period MVR 264 million was spent on Administrative and Operational Expenses.

Statistics shows that MVR 131.5 million has been spent on Aasandha by 12 January.

Additionally, the state has so far spent MVR 220.1 on subsidies.

Statistics show that the government spent MVR 275.9 million as Capital Expenditure. For the same period of 2022, the government's Capital Expenditure was MVR 176.6 million.

As such, MVR two million was spent on Capital Equipment, and MVR 272.7 million was spent on infrastructure Assets. This includes MVR 108 million spent on Land and Buildings, MVR 111.4 million spent on Roads, Bridges and Airports, as well as MVR 24 million spent on Wharves, Ports and Harbors.

It is recorded that the state spent MVR 1.2 million as domestic lending.

Moreover, the government has spent MVR 324.9 million for Loan Repayment.

So far this year, MVR 10.5 million was transferred to the Sovereign Development Fund and MVR 287.6 million was spent on Public Sector Investment Programs (PSIPs).