K. Male'
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02 Feb 2023 | Thu 10:30
Ministry of Finance
Ministry of Finance
Mohamed Sharuhaan
State Expenditure
State Expenditure reaches MVR 2.6 billion
 
MVR 1.5 billion has been spent as Recurrent Expenditure
 
MVR 610.4 million has been spent as Capital Expenditure
 
MVR 349.8 million has been spent for Loan Repayment

The state has spend MVR 2.6 billion by 26 January, 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 1.6 billion.

The total Recurrent and Capital Expenditure of the state sits at MVR 2.1 billion. During the same period of 2022, the total Recurrent and Capital Expenditure of the state sat at MVR 1.3 billion.

Ministry's statistics shows that the state spent MVR 1.5 billion as Recurrent Expenditure. This include MVR 163.7 million spent on Salaries, Wages and Pension of staff, as well as the MVR 1.3 billion spent on Administrative and Operational Expenses.

As such, MVR 15.1 million was spent on salaries and wages of staff and MVR 15.2 million was spent on allowances. While MVR 105.5 million was spent on pension of staff, MVR 27.9 million was spent on retirement benefits and gratuities.

During 2022, the state spent MVR 279.7 million on Salaries, Wages and Pension of staff between by 26 January. During this period MVR 651.8 million was spent on Administrative and Operational Expenses.

Statistics shows that MVR 283.4 million has been spent on Aasandha by 26 January.

Additionally, the state has so far spent MVR 257.8 million on subsidies.

Finance Ministry states that the government has so far spent MVR 153.6 as Council Grants.

Statistics show that the government spent MVR 610.4 million as Capital Expenditure. For the same period of 2022, the government's Capital Expenditure was MVR 364.7 million.

As such, MVR 10.2 million was spent on Capital Equipment, and MVR 572.8 million was spent on infrastructure Assets. This includes MVR 251.2 million spent on Land and Buildings, MVR 153.8 million spent on Roads, Bridges and Airports, as well as MVR 71.3 million spent on Wharves, Ports and Harbors.

It is recorded that the state spent MVR 13.1 million was spent on investment outlays.

Moreover, the government has spent MVR 14.2 million as domestic lending and MVR 349.8 million for Loan Repayment.

So far this year, MVR 52.2 million was transferred to the Sovereign Development Fund and MVR 578 million was spent on Public Sector Investment Programs (PSIPs).

Last updated at: 6 months ago
Reviewed by: Maryam Dhaanish Nasheed
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